Wednesday, April 16, 2008

HelioVolt Gets $1M From Texas Enterprise Fund

Austin, Texas-based HelioVolt has scored $1M from the Texas Enterprise Fund, Texas Governor Rick Perry said Tuesday, as part of a deal to construct a 125,000 square foot manufacturing facility in Austin. The Texas Enterprise Fund was created by the Texas legislature to help grow Texas businesses and attract jobs to the region. According to Perry, the deal for the manufacturing facility will create nearly 160 jobs in Texas. Perry said that HelioVolt was also looking at New York, Oklahoma, and Pennsylvania for its manufacturing plant. HelioVolt is developing thin-film, photovoltaic materials based on Copper Indium Gallium Selenide (CIGS). The firm is targeting the solar panel market, in hopes of providing less expensive solar modules than traditional PV arrays.