Solar wafer manufacturer 1366 Technologies has decided to build it’s first full-scale factory in a foreign country rather than in Genesee County.
While 1366 had raised nearly $100 million in private equity, and has continued to raise investment funds, Sanderson said, and had committed to the STAMP site, after the change of administrations in January 2017, the Department of Energy never released funds for a loan guarantee promised during the prior administration.
Nobody at 1366 is blaming the DOE for the decision to locate its first factory overseas.
Sanderson said the company will not yet to disclose the location of its proposed first factory.
The MIT-incubated company selected 1366 for its first factory, in part, because it could be powered by renewable energy, the power generated by Niagara Falls.
Throughout a conversation with The Batavian this afternoon, Sanderson said repeatedly that 1366 still intended to build a factory in the United States and when that day comes, GCEDC will receive the first call.
“While they would have been an economic asset to the community, one cannot help but wonder if 1366 Technologies was ever serious about opening a plant at the STAMP site in Alabama. Despite being approved over six and a half years ago and my office facilitating multiple contacts between 1366 and the Department of Energy, the company failed to complete the necessary requirements of their contract and has had to terminate its federal loan offer.”