Global law firm White & Case LLP represented the US Department of Energy (DOE) in connection with a US$150 million loan guarantee for 1366 Technologies, Inc., a company that develops multicrystalline wafers used in solar cells. The funding will help 1366 Technologies expand its manufacturing capabilities in Massachusetts and build a second US production facility. The company's innovative manufacturing process, called Direct Wafer, reduces four separate manufacturing steps into a single, continuous process and could significantly reduce wafer manufacturing costs.
"The closing of the DOE loan guarantee to 1366 Technologies is significant in many respects, including the recognition that support for innovative technologies developed in the US is key to enhancing the competitive position of US manufacturers in a global renewables marketplace," said Ned Neaher, who led the White & Case team in this transaction.
The deal was led by White & Case partner Edward R. Neaher Jr. (Project Finance, Washington, DC), with assistance from partners Victor J. DeSantis (Project Finance, Washington, DC), James S. Trainor, Jr. (Intellectual Property, New York) and Adam Chernichaw (Intellectual Property, New York), counsel P. Daniel Smith (Project Finance, Washington, DC), and associates Allison M. Dodd (Intellectual Property, Silicon Valley), Melanie-Anne Cariddi (Project Finance, Washington, DC) and Imtiaz Yakub (Intellectual Property, New York).
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