Solar Industry id1538
in News Departments > New & Noteworthy

After receiving loans and other aid from the state of Mississippi, solar startup Twin Creeks Technologies is expected to vacate the state. The company's assets, including a proprietary ion implanter technology, were acquired by GT Advanced Technologies earlier this month.

The AP reports that GT will not maintain a presence for Twin Creeks in Senatobia, Miss., where the company had built a factory thanks to loans, tax breaks and other assistance from the state.

Now, state officials have sued Twin Creeks for money that the government says is owed by Twin Creeks. Funds included a $15 million loan for construction of the companys facility, $8.2 million for factory equipment and $3.5 million for site and infrastructure improvements, as well as property taxes, according to the AP. The company's first loan payment to its host city is due Dec. 31.

GT is expected to begin commercialization of Twin Creeks' ion implanter technology in late 2014.





Register here to receive our Latest Headlines email newsletter
Suggested for you