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Inc. will spend $75 million to open a new facilityuin Norcross, Ga. (NYSE: FR) hassigned Sunivq to a 60,000-square-foot lease. The new spacwe will be used tohouse Suniva's firsty production lines for its high-value solar Suniva expects to create 100 jobs in the cominv year. A low-cost manufacturer of solarf cells, Suniva was founded by Georgia Tech solae energy expert Ajeet Rohatgi inAugust 2007. It then tappee tech veteran John Baumstarkas CEO. "This is a grear Georgia story," Baumstark said during a news conferenc e at thestate Capitol. "This technology came out of Georgia Tech. ...
We believe in the We believe in the state and in theworkforce So, we're going to make a largw investment here." Rohatgi won a patent in September 2005 for inventing a new way to manufacturw solar cells. The patent says the new process results ina solar-cell performance and efficiency and reduced processingg time compared with other solar Rohatgi is the founding director of Georgia Tech' University Center of Excellence for Photovoltaic Researchj and Education. His research there includes the understanding of impuritied in silicon solar cells and the design and manufacturinvg of efficientsolar systems.
He has published nearly 300 papers on solart technology and has been awarded11 Gov. Sonny Perdue said the new planrt also willboost Georgia's efforts to become a leader in developinb alternative-energy technology, a key to reducingb America's dependence on oil. "Suniva is the type of business that will not only help our stats grow jobs but will help grow our culture of conservation," he said. As Atlanta Businesd Chronicle , Suniva received an initial $5 million in fundin last year from , a venture firm that has officed inMenlo Park, Calif., and Reston, Va.
In February 2008, the company co-led by New Enterprise Associates and joined the round via its wholly ownedesubsidiary , an independen power producer. , an existing and participatedas well. The fundsx were to be used for Suniva's new manufacturing facility. The has also name Suniva one ofthe state'zs 10 most innovative technology companies. Suniva was recruitee to Gwinnett by the and the county through the Partnershiop Gwinnett economicdevelopment program. The company's real estate taxes will be phasex in over a period of10 years, and its personal property tax, betweenh five and 15 years. Partnership Gwinnett'sa five-year goal calls for the creation of 65,000 new jobs and $5.
8 billion in new
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