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| | May 23, 2008
6N Silicon Receives $1.5 million from the Government of Ontario, Announces EOS Project
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| | - http://www.newswire.ca/en/releases/archive/May2008/23/c4054.html
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| | May 23, 2008 -- Mississauga, Ontario 6N Silicon Inc., has received a $1.5 million investment from the Ontario Government's Ministry of Research and Innovation to support the development of a true solar grade silicon for the PV industry. This funding is provided from the Innovation Demonstration Fund, which supports promising environmental and alternative energy technologies.
These new funds are being applied to 6N Silicon's multi-year EOS Project to develop, demonstrate and test 6N's innovative silicon purification technology for a low cost, true solar grade solution. This funding complements the previously announced $4.5 million financing from the Canadian Government's Sustainable Development Technology Canada (SDTC).
John Wilkinson, Ontario Minister of Research and Innovation, said, "A key part of our government's strategy to make innovation a driving force for Ontario's economy is to invest in technologies that will create the jobs of tomorrow. This project is a great example of the power of innovation to turn challenges -- like how we generate clean energy -- into solutions we can sell to the world."
Amrit Mangat, Ontario Member of Provincial Parliament for Mississauga -- Brampton South, noted "We are thrilled with the culture of innovation that is thriving in Mississauga. Our investment in 6N Silicon Inc. will create jobs and provide clean energy solutions to Ontario and to the world."
Paolo Maccario, CEO of 6N Silicon added, "We are very pleased to have this important support of the Ministry of Research and Innovation. The solar industry is a fast-growing global industry with critical supply issues. Support from the Ontario government directly helps us to create new jobs and leverage the strong knowledge base here in Ontario. This support will help us to sustain our competitive advantages and refine our process for the current and next generation solar purity requirements."
EOS Project
Named after the Goddess of the Dawn, the EOS Project is a multi-year, milestone-based program to develop the 6N Silicon process for purifying true solar grade silicon. The EOS Project is focused on a low-cost solution that can address the purity requirements of all crystalline silicon solar cells, which currently represent about 95% of the overall photovoltaic market. The 6N process offers to fundamentally address the critical silicon shortage in the photovoltaic industry by allowing output capacity to keep pace with rapid industry growth as well as to reduce the cost of this critical feedstock to make solar power competitive with standard forms of electrical power generation. Support for the EOS Project is provided from Sustainable Development Technology Canada (SDTC) and the Government of Ontario's Innovation Demonstration Fund. More information on the EOS Project can be found at http://www.6nsilicon.com/s/eosproject.asp.
Ontario's Innovation Demonstration Fund
The Innovation Demonstration Fund (IDF) is a discretionary, non-entitlement funding program administered by the Ministry of Research and Innovation that focuses on the commercialization and initial demonstration of globally competitive, innovative technologies, processes and/or products.
The objective of the IDF is to help companies in their efforts to commercialize innovative technologies in Ontario.
6N Silicon Inc.
6N Silicon has developed a disruptive process for the production of true solar grade silicon. The solar industry has grown at over 45% per year on average for the past nine years, and the supply of purified silicon is a critical competitive and sustainable growth issue. The 6N process offers substantial improvements in scale-up-speed along with reduced capital and operational costs. Headquartered in the Greater Toronto Area, 6N Silicon is in the heart of Canada's metal processing industry and is surrounded by Canada's extensive metal processing expertise. 6N Silicon is the recipient of the inaugural Deloitte & Touche Technology Green 15 Award recognizing it as one of the top fifteen green technology companies in Canada. 6N investors include Good Energies, Ventures West and Yaletown Venture Partners. For more information, please visit 6N Silicon's web site at http://www.6nsilicon.com.
Contact::
David Dunnison
VP Business Development
david@6nsilicon.com
+1 905 795 7800 |
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