Photovoltaic company Solexant Corp. announced it would set up a plant in Gresham, Ore., that will be the first thin film solar manufacture facility of its kind in the world.
Solexant said it developed a new printable nanocrystal technology that uses special inks to produce thin-film solar cells. Production at an existing site in Gresham start in 2011, the company said.
The company said it expects to receive a $25 million loan from the Oregon Department of Energy and an additional $18.75 million energy tax credit for the manufacturing facility.
"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," said Solexant Chief Executive Officer Damoder Reddy.
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