It's Official: 1366 Technologies Secures DOE Funding for Solar Tech

Lexington-based 1366 Technologies Inc., has received finalization of a that will support the company’s groundbreaking new solar manufacturing process.

The company intends to use the loan to scale its in-state Direct Wafer manufacturing capabilities and to build a second US manufacturing facility.

The loan will significantly aid in the company’s expansion, and the firest phase of the project is expected to create 70 permanent jobs and 50 construction jobs, according to a Department of Energy estimate.

“Massachusetts and the 7th District are national beacons for American clean energy innovation and 1366 Technologies is one of our brightest lights,” said US Rep. Edward Markey, (D-Malden) in a press release congratulating the company on its award. “This funding recognizes that 1366 Technologies is a model for the innovation and clean energy technology which is driving job creation and economic growth here in the 7th District and all around the nation. With competition thriving in the solar industry and solar panel prices falling 42 percent so far this year, 1366 Technologies is rolling out a revolutionary manufacturing process that will slash solar costs even further.

“This new technology from 1366 Technologies is a homegrown clean energy success story – a concept born at M.I.T., developed with the help of federal research investments in Lexington, and now going into production to create jobs here in the Commonwealth,” Markey continued. “We are in a battle to maintain competitiveness with the Chinese in clean energy, and 1366 Technologies is on the front lines. I congratulate them for securing this prestigious award that recognizes the most promising clean energy projects.”

The funding is being awarded through DOE’s loan guarantee programs that support the deployment of commercial technologies and innovative technologies that address greenhouse gas emissions. DOE has issued loans, loan guarantees or offered conditional commitments for loan guarantees totaling over $40 billion to support 40 clean energy projects across the United States.

The DOE announced its conditional commitment to 1366 in June.

“As governments around the world push the commercial development of renewable energy and carbon-reducing technologies, the DOE loan guarantee program is critical to keeping U.S. manufacturing competitive and thriving,” 1366 CEO Frank van Mierlo said at the time. “With this loan, 1366 will realize its goal to make solar energy as cheap as coal while helping the U.S. to reclaim a key part of the silicon supply chain and restore the nation’s dominance in photovoltaics.”

According to a company press release after the initial announcement, the first 1366 commercial facility, located in Lexington, is scheduled to be fully operational by 2013 and should produce 20 megawatts per year of capacity and employ 100.

Construction on the second, larger facility – 1,000 megawatts at a still undecided location – is scheduled to commence in 2013 and create 300 permanent positions, the release said.