Signet Solar applies for federal funds to fuel thin-film strategy
by Camille Ricketts, June 25, 2009
Source: GreenBeat.com
http://green.venturebeat.com/2009/06/25/signet-solar-applies-for-federal-funds-to-fuel-thin-film-strategy/
Signet Solar, a Menlo Park, Calif.-based maker of thin-film solar panels, has applied for federal loan guarantees in addition to capital-raising efforts to aggressively expand its operations in the United States in the next three years. The company’s plan is to install four production lines with the capacity to manufacture 65 to 80 megawatts-worth of solar panels a year in New Mexico. Each of these lines is predicted to cost $200 million to build and is dependent on technology acquired from Applied Materials. Construction will begin this year in hopes of ramping up panel production by 2011. Signet says it filed its application to the Department of Energy in February and is in talks with several private backers for the project already. (more…)