Till date, the company has secured $18.75m in Business Energy Tax Credit from ODOE, a loan from the State of Oregon Energy Loan Program worth $25m and $64m in equity funding for the development of the project, which will be initially housed in an existing 100,000 to 150,000sqft facility in Gresham with plans to construct the new manufacturing line in 2011.
Solexant will use the facility to produce flexible thin film solar cells using a variety of materials through a printing process using its nanocrystal inks. For initial commercial offering, the company will produce nanocrystal thin-film solar cell using its proprietary roll-to-roll manufacturing process to print CdTe nanocrystals on a flexible substrate.
The company expects this project to generate as many as 200 jobs for the Oregonians. The company plans to build additional 100MW lines in Gresham once the first line becomes operational.
Damoder Reddy, CEO of Solexant , said: “As Oregon’s first thin film solar manufacturing plant, the Gresham facility will prove the commercial application of our nanocrystal ultrathin-film solar cell technology in a very capital-efficient way and solidify Solexant’s place as a leader in the solar industry.”
