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17 April 2008


HelioVolt awarded $1m by Texas Enterprise Fund

HelioVolt Corp of Austin, TX, USA, which makes thin-film copper indium gallium selenide (CIGS) solar cells and modules, has been awarded $1m from the Texas Enterprise Fund as part of a deal to construct a 125,000 square foot manufacturing facility, announced Texas Governor Rick Perry.

The Texas Enterprise Fund was created by the Texas legislature to help grow Texas businesses and attract jobs to the region. According to Perry, HelioVolt (which was was founded in Austin in 2001) had been looking at New York, Oklahoma, and Pennsylvania as a site for its manufacturing plant. "Incentives such as the (state enterprise fund) award were instrumental in our decision to locate our first manufacturing and testing facility in Austin," says HelioVolt’s CEO B. J. Stanbery. The new facility will create nearly 160 jobs in Texas.

The latest funding follows HelioVolt raising its second round of funding to over $100m last October.

See related items:

HelioVolt plans thin film solar factory

HelioVolt adds board members to support commercial expansion

HelioVolt raises second-round funding by $24m to over $100m

Search: HelioVolt CIGS solar cells