MALTA, NY-DayStar Technologies, a California-based energy technology firm, will be relocating its operations to the Saratoga Technology & Energy Park here. The firm plans to invest $40 million and create 250 new jobs in the next five years in the Empire State.

DayStar officials say the value of New York State’s incentive offer could reach more than $11.1 million. The company will be relocating its operations from Grass Valley, CA, to the site north of Albany, NY and has plans to establish its corporate headquarters, as well as develop manufacturing and research and development facilities, in Saratoga County.

The company, which is engaged in the development and commercialization of solar power generation technologies, plans to develop an 18,000-sf manufacturing and research and development facility in Malta. Company officials add that additional expansion will occur into new facilities to be built at the Saratoga Technology & Energy Park in the next 18 to 24 months.

John R. Tuttle, president and chief executive officer of DayStar Technologies, says, “The successful implementation of DayStar’s long term growth strategy is reliant upon engaging with pro-clean energy partners. In this regard, DayStar devoted a great deal of time carefully assessing where in the United States to headquarter our new facilities.”

New York State officials report that DayStar will initially invest between $2 million to $4 million at its new Malta facility. The company says it will relocate from California to the site within the next 30 days. DayStar, which has performed work for the Department of Defense and NASA, currently has seven employees but has plans to add 250 positions in the next five years. DayStar Technologies has been in operation since 1997 and recently went public raising approximately $10 million to move into pilot manufacturing of its photovoltaic product.

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