(Read more on the industrial market.)

AUSTIN-After months of searching nationwide and sparking some controversy on its home turf, HelioVolt Corp. has decided to put its flagship plant in the 122,400-sf Expo 8 building in the Expo Business Park. HelioVolt has signed a 10-year lease for the building in Southeast Austin.

Including the lease, operating costs and renovations to the just-completed shell, HelioVolt will invest more than $100 million to make the building usable for manufacturing thin-film solar products. Robert Langdon, HelioVolt’s VP of marketing, says the company searched the US to find the ideal site.

The company’s management opted for the 240-acre Expo Business Park, located at the intersection of Burleson Road and Montopolis Drive. The park, being developed by Dallas-based Trammell Crow Co.’s Austin team, was selected because “it offered the best combination of time to completion and cost,” Langdon tells GlobeSt.com. “We focused our search in the US with preference given to locations that had a short travel time from Austin, which is where our research and development facility is.”

Local media reported the outside search sparked some alarm that HelioVolt might not only settle its plant outside of Austin, but might move its headquarters out of the area as well. The fact that the company earlier this year closed on $101 million in its Series B funding round, one of the largest ventures seen in Austin, led to the speculation. In the fall, Austin City Council offered HelioVolt more than $600,000 of incentives to build its plant in Austin as long as it met investment and employment targets.

In a press release, HelioVolt’s management says the project will add 150 jobs once the plant is up and running, which will be by mid-2008. Langdon says building modifications will begin soon. The changes include electrical service and a customized HVAC system.

The company will produce photovoltaic modules used in industrial and residential installations. “These could be sold direct, to large customers, or through distribution,” Langdon says.

Langdon confides that preliminary plans are under way for a second plant, which could be ready to start in late 2009 or early 2010. “We’re in discussion with several partners right now,” he says, “and the next plant could very likely be in Europe.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.