You are here

Home » 1366 TECHNOLOGIES

1366 TECHNOLOGIES

1366 TECHNOLOGIES

1366 TECHNOLOGIES PROJECT SUMMARY In September 2011, the Department of Energy issued a $150 million loan guarantee to finance 1366 Technologies to build innovative, new manufacturing facilities that produce silicon wafers for solar cells at less than half of today’s cost. Under the terms of the loan, 1366 Technologies must achieve certain production milestones at its Bedford, Massachusetts demonstration manufacturing facility before receiving loan disbursements to build its new facilities. TECHNOLOGY INNOVATION 1366 Technologies manufactures multi-crystalline silicon wafers used in solar cells that produce power by converting sunlight into electricity. It employs a new, proprietary manufacturing process that will reduce wafer manufacturing costs by up to 50%. The technology was invented at the Massachusetts Institute of Technology and received research, development and demonstration DOE grants prior to receiving a loan guarantee to finance commercial deployment. ECONOMIC IMPACT 1366 Technologies estimates that it will create 50 construction jobs and support 70 permanent jobs. CLIMATE BENEFIT 1366 Technologies is expected to manufacture silicon wafers for solar cells that could generate 1,927,000 megawatt-hours of clean energy each year and prevent 1,100,000 metric tons of carbon dioxide emissions annually.PROJECT STATISTICS: 1366 TECHNOLOGIES PROJECT SUMMARY OWNER 1366 Technologies, Inc. LOCATION Bedford, Massachusetts FINANCIAL SUMMARY LOAN PROGRAM TITLE XVII LOAN TYPE Loan Guarantee LOAN AMOUNT 1 $150 Million ISSUANCE DATE August 2011 POWER GENERATION OPERATION STATUS Under Development GENERATION CAPACITY 1,000 MW PROJECTED ANNUAL GENERATION 2 1,927,000 MWh TRANSMISSION CAPACITY / LENGTH N/A ECONOMIC IMPACT PERMANENT U.S. JOBS SUPPORTED 70 U.S. CONSTRUCTION JOBS SUPPORTED 3 50 CLIMATE BENEFIT GALLONS OF GASOLINE SAVED ANNUALLY N/A CO2 EMISSIONS PREVENTED ANNUALLY 1,100,000 Metric Tons NOTES: ** All information updated March 2015. 1 Approximate amount of the loan facility approved at closing including principal and any capitalized interest. 2 Calculated using the project's and NREL Technology specific capacity factors. For cases in which NREL's capacity factors do not encompass project's specific design and operation, project specific capacity factors are used. 3 Estimated at the time of closing.