The sunny South is set to get a boost from solar, as Stion has announced plans to build a new production facility in Hattiesburg, Mississippi, as part of an incentive agreement with the state that includes a $75 million loan and other tax and training incentives. This facility will be the first thin-film solar panel factory in Mississippi, expected to add more than 1,000 jobs and $500 million in investments over the next six years.
Stion is a California-based company that recently closed a $70 million Series D financing deal as part of a partnership with Taiwan Semiconductor (TSMC), the world’s largest semiconductor foundry, to help scale up production through facilities such as this. The first phase of Stion’s Hattiesburg factory will include a 100 megawatt production line to the tune of more then $100 million of investment and 200 direct jobs between this year and next.
Stion’s focus is on producing high-efficiency, thin-film solar panels using monolithically integrated circuits with a flexible “form factor,” specifically designed for use in all major market segments, including commercial/government, residential, utility and off-grid living. Chet Farris, Stion’s President and CEO, called Mississippi, Forrest County, and the city of Hattiesburg “a business-friendly location with a strong resource base for manufacturing.”
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