Owens Corning and Solexel Awarded $13M for Advanced Building-Integrated Solar Technology by Department of Energy
Owens Corning (NYSE: OC) and Solexel have been awarded $13 million in funding from the United States Department of Energy 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."
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