This follows a successful $50 million financing round led by New Enterprise Associates and Advanced Equities. Suniva expects its new facility to create approximately 100 additional jobs in the region within its first year of operation.
Suniva’s new factory is designed to redefine the manufacturing process for high-efficiency solar cells in order to bring down the cost of photovoltaics, with an initial capacity of 32MW on its first line. The company is already planning additional lines and expects to scale to more than 100MW over the next two years.
John Baumstark, CEO of Suniva, said: As the solar industry looks to bring down costs and compete with conventional power, Suniva has built the team and the technology to execute on our vision of low-cost, high-efficiency solar energy. We are pleased to be moving into our next phase of growth close to home, and we are interested in working with state and local government to create an ecosystem of clean energy companies in the Atlanta metro area.
