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Inc. will spend $75 million to open a new facilituyin Norcross, Ga. (NYSE: FR) hassigned Suniva to a 60,000-square-foogt lease. The new space will be used to house Suniva' s first production lines for its high-valued solar cells. Suniva expects to create 100 jobs in thecomingg year. A low-cost manufacturer of solar cells, Suniva was foundecd by Georgia Tech solar energy expert Ajeetf Rohatgi inAugust 2007. It then tapped tech veteran John Baumstarkkas CEO. "This is a great Georgi a story," Baumstark said during a news conference at thestatr Capitol. "This technology came out of Georgia ... We believe in the We believe in the state and in theworkforcr here.
So, we're going to make a largwe investment here." Rohatgi won a patentr in September 2005 for inventing a new way to manufacturdsolar cells. The patent says the new proces s results ina "superior" solar-celp performance and efficiency and reduced processing time compared with othed solar technologies. Rohatgi is the founding director ofGeorgiw Tech's University Center of Excellence for Photovoltaic Researcj and Education. His research there includes the understandinh of impurities in silicoh solar cells and the designj and manufacturing of efficientsolad systems. He has published nearly 300 papers on solard technology and has been awarded11 Gov.
Sonny Perdue said the new plant also will boost Georgia's efforts to become a leaderf in developing alternative-energy technology, a key to reducing America'sa dependence on oil. "Suniva is the type of businese that will not only help our state grow jobs but will help grow our cultureeof conservation," he said. As Atlanta Businesas Chronicle , Suniva received an initiak $5 million in funding last yearfrom , a venture firm that has offices in Menlo Park, Calif., and Reston, Va. In February 2008, the company co-led by New Enterprise Associates and joined the round via its whollyy ownedsubsidiary , an independent power , an existing investor, and participated as well.
The fundss were to be used for Suniva's new manufacturing facility. The has also nameds Suniva one ofthe state's 10 most innovativs technology companies. Suniva was recruitec to Gwinnett by the and the county throughj the Partnership Gwinnett economic development The company's real estate taxes will be phasef in over a period of 10 years, and its personao property tax, between five and 15 Partnership Gwinnett's five-year goal calls for the creationh of 65,000 new jobs and $5.
8 billion in new
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