HelioVolt, an Austin-based company which produces sunlight-converting, ultra thin 'film' modules and materials for implementation in metals, plastic, glass and other materials that can be integrated into the construction of buildings, has announced its decision to locate its first full-scale solar manufacturing plant in Austin.
HelioVolt plans to invest $80 million to create 150 new jobs and launch a new facility at the Expo Business Park in Southeast Austin just one mile from Austin Bergstrom International Airport (ABIA). Founder and CEO B.J. Stanbery says they anticipate the company moving in next year upon finalization of city permits and that the factory should be producing prototypes in the late fall 2008, with full production expected by 2009.
“As HelioVolt moves into the next phase of production here in Austin, we look forward to contributing to the economic growth of our home city with new highly skilled jobs and expanded manufacturing in the increasingly critical field of solar energy,” said Stanbery. “Austin is busy securing its position as a world-class hub of clean energy innovation; a powerful opportunity for synergies has emerged here, and HelioVolt is proud to be involved in the early stages of what will no doubt grow to be a thriving new clean tech community.”
Earlier this year, the company closed on $101 million in its Series B funding round, heralded by city leaders as one of the most successful and largest venture deals in recent Austin history.
“HelioVolt’s decision to establish its first full-scale manufacturing plant in Austin speaks volumes for Austin’s ongoing success transforming itself into the Clean Energy Capital of the World,” said Jose Beceiro, Director of Economic Development- Clean Energy for the Chamber. “The local clean energy community is thrilled that HelioVolt has decided to remain in Austin and with this kind of anchor tenant in solar, the Central Texas clean energy cluster can continue to grow and mature.”
The Austin Chamber has worked closely with Austin Energy, the Clean Energy Incubator and the State to develop several initiatives that focus on the clean energy industry including the Clean Energy Venture Summit, CleanTX Forum and the Solar Energy Entrepreneurs Network (SEEN). The announcement by HelioVolt strengthens the efforts of Opportunity Austin to diversity Austin’s key industries.
One of Texas’ greatest untapped resources is its abundance of sunshine, and HelioVolt’s locally manufactured products will allow residential, commercial, and utility customers across the state to take advantage of this clean and renewable energy source. There are now close to 46 clean energy companies in Central Texas that are engaged in developing all kinds of technology from solar to wind, biomass, geothermal, biofuels, power storage, solid state lighting, carbon capture and grid management.
HelioVolt specializes in providing a low cost solution for solar generated electricity. They use a non-silicon based solar technology called CIGS which can be applied to a wide variety of products from roof top solar panels to building integrated construction materials.
Opportunity Austin, the Chamber’s five-year economic development initiative to create 72,000 new jobs and increase payroll in the Central Texas region by $2.9 million has already surpassed its goals in the first four years with an addition of close to 100,000 jobs to the region since the program’s inception in 2003.
