Manufacturing Move for Solar Cell Startup

DayStar Technologies, a new solar energy startup company, was recently awarded USD$1 million by the New York State Energy Research and Development Authority (NYSERDA). The grant will help the company make the transition from research and development into the commercial production of solar photovoltaic (PV) cells.

Payment of the award will be in phases as DayStar meets facility scale-up and production milestones. The first $600,000 is based on production capacity milestones at the Halfmoon facility, and the remaining $400,000 is based on product sales coupled with DayStar’s commitment to a new facility at the Saratoga Technology and Energy Park. “With this grant, we are delighted to help DayStar advance their plans to produce high volume, high performance, low cost solar cells,” President of NYSERDA Peter Smith said. “Moreover, by partnering with enterprising, forward-thinking companies like DayStar, the State of New York stands to reap numerous benefits — not the least of which is ultimately meeting our ambitious renewable energy goals over the next nine years.” Renewable portfolio standard (RPS) legislation in New York State mandating that at least 25 percent of the electricity sold to customers in the state will come from renewable resources by the year 2013 makes the NYSERDA award particularly relevant for DayStar. Adoption of the RPS Program serves to greatly accentuate the State of New York’s continuing support and unwavering commitment to the development and use of renewable energy resources, according to the DayStar press release. “We applaud the State of New York for taking such a proactive, aggressive stance on the support of alternative energy solutions to meet the growing power needs of this great State. Governor Pataki’s vision, Chairman Flynn’s decisive execution, and the collaborative effort and support of NYSERDA have all united to yield a renewable energy platform that is sure to inspire profound advancements in our industry,” said Dr. John Tuttle, DayStar Chairman and CEO.
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