Quantum Fuel Systems Technologies Worldwide Inc. says the California Energy Commission (CEC) has approved a low-interest loan for the amount of $4.4 million under the state's Clean Energy Business Financing Program (CEBFP) for California-based manufacturers of solar products.
The low-interest funds will go toward manufacturing equipment for the solar module facility in Irvine, Calif., to implement a plant capacity of 45 MW annually. The manufacturing facility will replicate the equipment, processes and quality control measures employed at Quantum's affiliate Asola's 45 MW solar facility in Germany.
Key materials, including silicon solar cells, are expected to be centrally purchased by Asola in Germany, from global sources to benefit from economies of scale, in line with the global strategic plan of Quantum and Asola, the company adds. Quantum currently holds a 25% equity stake in Asola.Â
SOURCE: Quantum Fuel Systems Technologies Worldwide Inc.
