Thin-film solar company HelioVolt Corporation has been awarded $1 million from the Texas Enterprise fund, as a result of the company’s decision to build a 125,000 square-foot manufacturing facility in Austin, Texas.
"Incentives such as the (state enterprise fund) award were instrumental in our decision to locate our first manufacturing and testing facility in Austin," CEO B.J. Stanbery, CEO of HelioVolt.
This will be HelioVolt’s first manufacturing facility, expected to 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. HelioVolt expects the new factory to create more than 150 additional solar jobs in the region.
HelioVolt secured a $101 million funding round in 2007 and received incentives from the city of Austin worth more than $600,000.
Austion was in competition with Pennsylvania, New York and California for the plant. HelioVolt was founded in 2001 in Austin.
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