SVTC Solar Finalizes U.S. Department Of Energy Contract

SVTC Solar, a subsidiary of SVTC Technologies, says it has finalized a contract with the U.S. Department of Energy (DOE) for $30 million in funding through the DOE's SunShot Manufacturing Initiative.

The final scope of the program includes an increase in the award from its previous $25 million to $30 million and is complemented by over $55 million in photovoltaic equipment, materials and funding contributed by partners and customers.

The funding will be used to support the start up of a facility in California's Silicon Valley for the creation, refinement and commercialization of photovoltaic technologies and products. According to SVTC, this is the first project under DOE's Advanced Manufacturing Partnership program to complete contract negotiations and begin work.

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