Gov. Andrew Cuomo announced Wednesday that 1366 Technologies, a manufacturer of technologies in the solar energy industry, will establish its first large, commercial production plant at the high-tech Science and Technology Advanced Manufacturing Park in Alabama, Genesee County.
The company expects to create at least 600 new, full-time jobs over the next five years, and, eventually, more than 1,000 new jobs in Upstate New York’s Finger Lakes region.
“This $700 million investment is an enormous vote of confidence in the Upstate economy, and sends the message that there is opportunity in every corner of this state.” Gov. Cuomo stated.
Reportedly, the Finger Lakes Regional Council’s application in the state’s competition for $500 million in economic development funds, which the organization submitted Monday, listed the STAMP project as a potentially lucrative investment.
“We couldn’t be more proud to partner with the state of New York, and contribute to the Finger Lakes region’s vibrant future,” 1366 Technologies CEO Frank van Mierlo stated. “Gov. Cuomo and his administration recognize the opportunity advanced manufacturing brings to New York, and to the United States. Innovation, like ours, is at the heart of economic growth and jobs. Thanks to his strategic vision and support, we will bring both to Upstate New York.”
In addition, “1366 Technologies develops and manufactures high performance silicon wafers, the building block of solar cells, and the most expensive component of a solar panel,” a press release said. “The company’s revolutionary Direct Wafer technology transforms how the wafers are made, and replaces a decades-old, expensive and wasteful manufacturing process with one elegant step. The result slashes the cost of a wafer by 50 percent. As a ‘drop-in’ replacement for conventional wafers, 1366 Technologies makes it easy for cell and module manufacturers to strip out costs without adding complexity.
According to officials, construction of the first phase of the facility is slated to begin no later than the second quarter of 2016, and is expected to be completed in 2017.
Gov. Cuomo made the announcement at Genesee Community College, Wednesday.