510nano Incorporated, a developer of renewable energy projects and technologies, will invest $11 million to relocate its headquarters and establish a manufacturing operation in Greensville County, Virginia.
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The company will construct a 100,000-square-foot manufacturing facility for the production of solar panels in Greensville County Industrial Park. The project will create 113 new jobs.
Speaking about today’s announcement, Governor McAuliffe said, “Creating these 21st century jobs in the advanced manufacturing and renewable energy sectors is critical as we work to build a new Virginia economy. 510nano’s investment in Greensville County is a huge win for the Commonwealth and especially for a community that is transforming itself.â€
510nano Incorporated is a cleantech innovator specializing in the development and operation of commercial- and utility-scale renewable energy power plants (REPPs), along with the design of associated modules, panels and other hardware.
Since its founding in 2005, 510nano has developed more than 30 clean technologies in various stages of commercialization. In 2008, the company began generating steady development, consulting, and management fees as a turnkey power plant developer.
In 2012, 510nano began deploying its own capital, starting with two rooftop systems on a long-term revenue contract with the Town of Los Gatos, California, and culminating in 2014 with the delivery of 510 REPP One LLC, a commercial-scale plant in Garysburg, North Carolina. The company has deployed third-party off-the-shelf technology at three solar farms producing over 2.2 million kilowatt-hours (kWh) of power in an average year.
The Virginia Economic Development Partnership worked with Greensville County and Virginia’s Growth Alliance to secure the project for Virginia. Governor McAuliffe approved a $200,000 grant from the Governor’s Opportunity Fund to assist Greensville with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $635,000 in Tobacco Region Opportunity Funds for the project.
The company may also be eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
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