Loading ...December 22, 2008
Xunlight Receives $7 Million Loan from the State of Ohio
Toledo, Ohio – December 22, 2008 – Xunlight Corporation, a leader in the development of flexible and lightweight thin-film silicon solar modules, announced that it has received a $7 million loan from the State of Ohio, including $3 million from the Ohio Research and Development Investment Fund and $4 million from the Ohio Enterprise Bond Fund. The proceeds will be used to expedite the construction of a 25 megawatt photovoltaic production line in Toledo, Ohio to mass produce flexible thin-film solar cells.
“Xunlight is fortunate to be headquartered in a state where the top elected officials are committed to supporting the renewable energy industry and sustained job growth. Both Lt. Governor Fisher and Ohio Treasurer Cordray have visited Xunlight and shared with us their visions of Ohio’s future in solar manufacturing. Strong support like this is critical to Xunlight’s ability to attract institutional investments from leading venture capital and private equity firms all over the world”, said Xunming Deng, CEO of Xunlight. “This new loan will help us accelerate the build-up of our production capacity and create many high-paying jobs in the State of Ohio.”
“We believe the greatest opportunities for economic growth in Ohio lie where the strongholds of our inventive past intersect with the innovation and new technologies of our economic future,” said Lt. Governor Lee Fisher. “Xunlight is a great collaborative partner with the state and we are committed to their success by continuing to support advanced energy economic development programs in Ohio.”
“Small businesses with innovative vision like Xunlight are the engine of Ohio’s economy,” said Ohio Treasurer Richard Cordray. “It’s critical that we work to keep them here and encourage growth and development today, in order to secure a stronger Ohio tomorrow. The Enterprise Bond Fund is a perfect example of government working together to keep Ohio jobs here in Ohio. Issuing bonds for the Department of Development to fund visionary ventures like this, is a vital role for the Ohio Treasury.”
