Colorado Economic Recovery and Accountability

Press Release - 6 Clean-Tech Companies for Securing $75M

OFFICE OF GOV. BILL RITTER, JR.
WWW.COLORADO.GOV/GOVERNOR

 

FOR IMMEDIATE RELEASE
FRIDAY, JAN. 8, 2009

CONTACTS:
Myung Oak Kim, 303-947-5708, Myung.kim@state.co.us
Todd Hartman, 303-513-3639, todd.hartman@state.co.us
 
GOV. RITTER CONGRATULATES 6 COLO. COMPANIES FOR SECURING $75M

 
Gov. Bill Ritter today applauded six Colorado clean-tech companies for securing $75.2 million in advanced energy manufacturing funds through the Recovery Act, which will create jobs, increase manufacturing and grow Colorado’s New Energy Economy.
 
“The Recovery Act is giving a much-needed boost to Colorado companies that are creating jobs and helping to drive the New Energy Economy,” Gov. Ritter said. “These tax credits will help our companies grow and keep Colorado on the road to economic recovery.”
 
The six companies – Vestas, Reflec Tech, Coolerado Corporation, Advanced Energy Industries, Hexcel Corporation and Abound Solar – were among 183 companies across the country that received $2.3 billion in Recovery Act tax credits from the U.S. Department of Energy.
 
The tax credits are designed to create jobs by building a strong domestic manufacturing industry that will supply parts and equipment to advance clean and renewable energy projects. These tax credits will help U.S. companies create tens of thousands of jobs while working toward President Obama’s goal of doubling the amount of renewable energy used with wind turbines and solar panels built in the United States.
 
The investment tax credits, worth up to 30 percent of each planned project, will leverage private capital for a total investment of nearly $7.7 billion in high-tech manufacturing in the United States.
 
“The world urgently needs to move toward clean energy technologies, and the United States has the opportunity to lead in this new industrial revolution,” said Energy Secretary Steven Chu. “Today's awards will create new jobs and jumpstart the industries we need to both solve the energy problem and ensure America's future competitiveness."
 
The six Colorado companies and projects:
 

  • Abound Solar in Longmont, $12.6 million. Abound Solar will expand facility capacity with an additional manufacturing line. This facility will be solely dedicated to commercial production of PV solar panels using cadmium telluride semiconductor technology.

 

  • Advanced Energy Industries in Fort Collins, $1.2 million. Advanced Energy Industries plans to establish a manufacturing facility for the production of commercial and utility-scale solar inverters. Inverters are used to integrate solar PV installations.

 

  • Coolerado Corp. in Denver, $750,000. Coolerado will manufacture commercial and residential air conditioning units that use a heat exchanger incorporating an innovative thermodynamic cycle to cool the air. The patented process creates a healthier, more comfortable living environment while significantly reducing energy costs. 

 

  • Reflec Tech in Arvada, $750,000. ReflecTech Inc will manufacture Mirror Facets made with ReflecTech Mirror Film which will reflect sunlight onto the receivers of Parabolic Trough Concentrating Solar Power (CSP) collector systems.  Facets will match or exceed the optical and structural characteristics of the existing glass mirrors, but will aim to be more cost-efficient and durable.  The end product will aid domestic solar power production.

 

  • Hexcel Corp. in Windsor, $8.1 million. Hexcel Corp., a Vestas supplier, will establish a technologically advanced manufacturing facility to produce high-performance epoxy, glass, and carbon fiber composite materials. The composites will be used in the manufacture of wind turbine blades.
     
  • Vestas Blades America Inc. in Brighton, $30.2 million. Vestas Blades produces blades for wind turbines used in the production of wind energy. The utility-scales blades, which convert wind into mechanical motion, are approximately 44 meters in length.

 

  • Vestas Towers America Inc. in Pueblo, $21.6 million. Vestas Towers will produce tubular wind towers that support wind turbines at heights ranging from between 80 and 95 meters above ground.

 
More information about the Recovery Act can be found at www.colorado.gov/recovery.