SpectraWatt Halts Construction in Oregon

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SpectraWatt Inc. a solar cell company spinoff from Intel (Nasdaq: INTC) has suspended construction on a production facility in Oregon, according to The Oregonian.

The company reportedly is having difficulty finding financing. Loosing the plant would be a big setback for Governor Ted Kulongoski's green initiative for the state.

But Desari Strader, executive director of the Oregon Solar Energies Industry Association, told The Oregonian it is just a matter of miscommunication between the company and state officials, who have offerec tax incentives to the company.

SpectraWatt emerged on the scene in June 2008, with big ambitions and a $50 million investment from Intel. The company hoped to begin shipping solar cells in mid 2009, but has pushed that target back.

Read full coverage at the link below.

Website: http://www.oregonlive.com/news/index.ssf/2009/01/solarcell_maker_halts_construc.html

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