Owens Corning, Solexel get funds for solar energy technologyWritten by Duane Ramsey | | firstname.lastname@example.org
Owens Corning and Solexel were awarded $13 million in funding from the U.S. Department of Energy for projects that could help shape the next generation of solar energy technologies.
The funding is part of the DOE’s SunShot Initiative which seeks to make solar energy systems more affordable and sustainable for homeowners.
The funds provide the companies with an opportunity to integrate Solexel’s solar technology with Owens Corning’s roofing products to create solutions that are affordable, aesthetic and easy to install.
“Owens Corning is excited about the potential to develop game-changing technology that addresses homeowner demand for reliable, high-performance, affordable and sustainable roofing solutions,” Sheree Bargabos, president of Owens Corning Roofing, said in a statement.
“We have been monitoring solar roofing as a prospective market where we could provide value for our customers. This is a unique opportunity to make the technology relevant for the broader marketplace that may have been interested but never considered it a viable option due to cost,” Bargabos stated.
“Solexel’s high performance technology is particularly well-suited for building-integrated solar products,” Michael Wingert, president and CEO of Solexel, stated in a press release. “Solexel’s mission is to be an innovator to develop truly differential solar solutions.”
Solexel is a solar photovoltaic manufacturer based in Milpitas, Calif. The company is developing crystalline silicon solar modules that offer the performance, reliability and quality of the industry’s best-performing modules at significantly lower cost.
Solexel is a private-owned company funded by leading venture capital firms, including Kleiner Perkins Caufield & Byers, Technology Partners, DAG Ventures and Northgate Capital.
Owens Corning (NYSE: OC) is a leading producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. The company is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives.
Founded in 1938, Owens Corning has been a Fortune 500 company for 57 consecutive years. The company reported sales of $5 billion in 2010 with about 15,000 employees in 28 countries on five continents.
Additional information is available at www.owenscorning.com.