Markey Congratulates 1366 Technologies for Department of Energy Funding For Revolutionary Solar Technology
$150 million loan guarantee will support solar manufacturing project in Lexington
Representative Edward J. Markey (D-Mass.), top Democrat on the Natural Resources Committee and dean of the Massachusetts Congressional delegation, today congratulated 1366 Technologies Inc. of Lexington, for receiving conditional commitment for a $150 million loan guarantee from the Department of Energy (DOE) that will support a groundbreaking new solar manufacturing process called Direct Wafer. The Direct Wafer process will reduce the manufacturing costs of silicon-based wafers, the key component of solar cells, by up to 50 percent, helping substantially cut the cost of solar power. DOE reports the first phase of the project will be located in Lexington, Massachusetts and is expected to generate 70 permanent jobs and 50 construction jobs.
"Massachusetts and the 7th District are hubs of the clean energy universe and 1366 Technologies is a shining star," said Rep. Markey. "This funding recognizes that 1366 Technologies is model for the renewable energy innovation which can drive job creation and economic growth here in the 7th District and all around the nation. This new technology 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. I congratulate 1366 Technologies for securing this esteemed award that recognizes the most promising and innovative clean energy projects."
The funding is being awarded through DOE's loan guarantee programs that support the deployment of commercial technologies along with innovative technologies that address greenhouse gas emissions. DOE has issued loans, loan guarantees or offered conditional commitments for loan guarantees totaling over $33 billion to support 35 clean energy projects across the United States.