Why are we giving this company all this cash............hey, why not just move into the failed building that Evergreen once was planning on using with the money Gov. Patrick gave them???? This is an embarrassment and an insult to the taxpayer!!!!!
Venture-backed solar technology developer 1366 Technologies Inc. announced Friday it has received a $150 million loan commitment from the U.S. Department of Energy for the construction of a commercial production facility in Massachusetts along with a second, larger plant in the U.S.
The Lexington, Mass.-based company said the Massachusetts plant will be fully operational by 2013 and will produce the equivalent of 20 megawatts per year of silicon solar wafers, a building block of solar panels. The company didn't say whether a specific location has been chosen for the facility, which will employ 100 people.
Construction of the second facility — which will produce the equivalent of 1,000 megawatts of wafers a year — is set to start in 2013, 1366 said. The facility will employ 300 people and will be built in the U.S., though the location hasn't been decided, the company said.
Founded in 2008, 1366 says it has developed a new process for manufacturing solar wafers that wastes less silicon and energy, and ultimately costs 65 percent below the cost of conventional processes. The company intends to become a supplier of the wafers to solar panel makers.