Dye Solar cells to be made in Wales, Cardiff at £60m plant
October 18, 2006
Sion Barry, Western Mail
Source; ICWales
http://icwales.icnetwork.co.uk/0300business/0100news/
Wales has secured a 300-job inward investment project pioneering groundbreaking solar power technology, which could allow consumers to recharge electronic devices as they walk.
US start-up venture G24i yesterday announced it is bringing a £60m dye sensitised solar cells manufacturing facility to Cardiff – at the site of the former Acer plant.
The company is pioneering what it claims is the world’s lightest, most efficient and least expensive solar technology. Its innovative material will initially be made to power devices such as mobile phones, handheld games consoles, MP3 players and laptop computers. It could also be incorporated into fabrics to make ‘smart’ textiles – allowing people to recharge devices while on the move.
The company believes there is an opportunity to integrate the cells in building products – that can meet part of a building’s energy requirements and further reduce carbon emissions.
G24i says it hopes to have recruited 300 hi-tech staff by the time its operation reaches full production capacity in the summer of 2008.
However, the Western Mail has learnt that Wales has lost out to Singapore in a bid to land an even bigger inward investment project from North America – one which promises to create more than 1,000 IT jobs.
The Welsh bid – codenamed Operation Tulip – had the full support of the UK Government.
However, at the final hurdle the bid, led by the Assembly’s inward investment arm International Business Wales, lost out to a rival offer from Singapore. An official announcement is expected shortly.
G24i, which is looking at a possible flotation on London’s Alternative Investment Market, is confident that it can generate annual revenues of £500m by the time its Welsh facility reaches full capacity.
The Welsh Assembly Government – which is not backing the inward investment financially – said it hoped the company’s technology would play a part in helping cut carbon emissions.
Enterprise Minister Andrew Davies said, ‘Renewable energy is critical to our future energy needs and Wales is leading the way in the development of such technology with a wide range of small and large companies and research institutes.
‘We’re extremely pleased that we now have one of the world’s most exciting investors in renewable energy basing a worldclass facility here in Wales from where some of the latest solar cell technology will be developed and manufactured. The significant investment being made in the facility is testament to the scale of research and development being undertaken by the company.’
G24i chief executive Paul Turney said, ‘With the tremendous global explosion in the use of mobile electronic devices, there is a huge untapped market for G24i’s ground-breaking technology and products that will provide individuals with the opportunity to personally contribute to mitigating climate change on our planet.’
The executive chairman of G24i and former speaker of the California State Assembly, Robert Hertzberg, confirmed that the company had looked at potential locations globally before opting for South Wales.
Mr Hertzberg said, ‘We looked at the States, the Far East and Europe. However, we quickly narrowed it down to Europe where renewable energy is taken far more seriously than elsewhere… especially the US.
‘The business and financial communities in Europe understand the issues and importance of developing a strong renewable energy sector.
‘The Acer plant is the perfect location for us and has the capacity that will allow us to expand through a phase period of development. Within 18 months we plan to have a workforce of 300 working at the facility.’
Mr Hertzberg said the plant would also be the world’s first renewable energy operation powered solely by green energy sources.
Leader of Cardiff County Council Rodney Berman said the investment was a significant boost for the capital. ‘This investment demonstrates that Cardiff is emerging as a location where world-class companies are keen to do business,’ he said. ‘The new technology the company intends manufacturing will have worldwide potential and represents a huge investment in the city.
‘But this is just the beginning. The investment provides a unique opportunity to take forward a new approach to sustainable technology in the city and this investment is clear demonstration of the potential for more projects of this type.’