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Founded in 2001 to produce thin film solar energy products, HelioVolt Corp says it plans to locate its initial manufacturing facility in the Expo Business Park in Austin, TX, USA. The facility will have an initial production capacity of 20MW, with the ability to expand as required. HelioVolt adds that it expects the new factory to begin production of copper indium gallium selenide (CIGS) thin film solar products in 2008, and to create more than 150 jobs.

The Construction of the factory will be financed by HelioVolt’s Series B funding round, which recently closed at $101m, making it the largest solar technology venture capital round to date.

“As the renewable energy industry continues to look with interest to CIGS and other thin film materials as a route to advanced solar products, we at HelioVolt have been diligently working to ensure that our production process is the most cost-effective and reliable in the market. Needless to say, we are delighted to be entering the next stage of growth with our first factory,” said CEO and founder Dr B.J. Stanbery.

Will Wynn, Austin’s mayor, said: “With cities around the country vying to host the company’s first production facility, we are proud that HelioVolt has chosen its own hometown as a base for continued growth.”

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Visit: www.heliovolt.com