TOLEDO, Ohio, Sept. 2, 2011 /PRNewswire/ -- Owens Corning
(NYSE: OC) and Solexel have been awarded $13
million in funding from the United States Department of
Energy (DOE) for projects that will 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.
"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," said Sheree Bargabos,
president, Owens Corning Roofing. "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."
With the prospect of the DOE funding, there is great opportunity
to integrate Solexel's technology into solar roofing solutions that
are affordable, aesthetically beautiful, and easy to install.
Solexel's technology leadership coupled with Owens Corning's
roofing market leadership presents the industry with the
opportunity to revolutionize residential roofing.
"Solexel's mission is to be an innovator to develop truly
differentiated solar solutions," said Michael Wingert, president and CEO of Solexel.
"Solexel's high-performance technology is particularly
well-suited for building-integrated solar products."
About Owens Corning
Owens Corning (NYSE: OC) is a leading global producer of
residential and commercial building materials, glass-fiber
reinforcements and engineered materials for composite systems. A
Fortune® 500 company for 57 consecutive years, Owens Corning is
committed to driving sustainability by delivering solutions,
transforming markets and enhancing lives. Founded in 1938, Owens
Corning is a market-leading innovator of glass-fiber technology
with sales of $5.0 billion in 2010
and about 15,000 employees in 28 countries on five continents.
Additional information is available at www.owenscorning.com.
About Solexel:
Solexel is an innovative solar PV module manufacturer, based in
Milpitas, California. The
company is developing crystalline silicon solar modules that offer
the performance, quality and reliability of the industry's
best-performing modules, at significantly lower cost.
Solexel's approach is based on a disruptive, IP-protected
technology which eliminates dependency on the traditional silicon
supply chain, and at the same time, enables unique product
performance features. The company is funded by leading
Venture Capital firms, including Kleiner
Perkins Caufield & Byers, Technology Partners, DAG
Ventures and Northgate Capital.
SOURCE Owens Corning