HelioVolt Plans Factory in Texas

HelioVolt Corporation has announced plans to locate its initial manufacturing facility in Austin, Texas. The company’s first factory will have an initial production capacity of 20 megawatts (MW) with the ability to expand as the company increases production in the U.S. and abroad.

Using HelioVolt’s FASST manufacturing process, the factory will begin production of copper indium gallium selenide (CIGS) thin film solar products in 2008. Construction of the facility will be financed by the company’s Series B funding round, which recently closed at $101 million.

“As the renewable energy industry continues to look with interest to CIGS and other thin film materials as a route to advanced solar products, we at HelioVolt have been diligently working to ensure that our production process is the most cost-effective and reliable in the market. Needless to say, we are delighted to be entering the next stage of growth with our first factory,” said HelioVolt CEO and founder Dr. B.J. Stanbery.
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