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Firm's £60m solar technology plan Firm's £60m solar technology plan
(about 9 hours later)
A company using revolutionary new solar energy technology is to make a £60m investment in Wales and create 300 jobs in Cardiff, the BBC has learned. A company using revolutionary new solar energy technology says it is to make a £60m investment in Wales and create 300 jobs in Cardiff.
It is understood the product, which is being revealed on Tuesday, could potentially revolutionise the industry. G24i will begin producing new material early next year which it says could enable people to recharge their mobile telephones using their clothes.
Unlike the usual solid glass solar panels, the product is more like a plastic foil and can be made into small patches for clothing or MP3 players. The "solar foil" is said to be thin and durable and can generate more output than conventional solar panels.
It will be the largest new investment into Wales since devolution in 1999.It will be the largest new investment into Wales since devolution in 1999.
The company, G24i, will begin production early next year at Wentloog Corporate Park in Cardiff and will employ at least 300 people over the next three years. Production will take place at Wentloog Corporate Park and the company said it would employ at least 300 people over the next three years.
Renewable energy is critical to our future energy needs and Wales is leading the way Enterprise Minister Andrew Davies
The material has been described as a "plastic foil or film", which could be applied to surfaces in a variety of colours.
The company said it could create electricity from any light source, and would be one-fiftieth of the weight of traditional solar cells.
The manufacturers have compared the process to photosynthesis, the process by which plants, algae and certain bacteria convert sunlight to chemical energy.
'World-class'
It can also be used for much larger surface areas up to the size of a roof top, making it easy for the building industry to use it.
Enterprise Minister Andrew Davies said: "Renewable energy is critical to our future energy needs and Wales is leading the way in the development of such technology.
"We're extremely pleased that we now have one of the world's most exciting investors in renewable energy basing a world-class facility here in Wales."
G24i chief executive Paul Turney said: "There is a huge untapped market for G24i's ground-breaking technology and products that will provide individuals with the opportunity to personally contribute to mitigating climate change on our planet".
The investment is purely a private sector initiative and does not involve any public money.The investment is purely a private sector initiative and does not involve any public money.
Licence
The new solar energy equipment can either be made into small patches for use on clothing or products like MP3 players, or into much larger surface areas up to the size of a roof top, so making it easier for the building industry to use it.
Unlike the usual fixed-size panels of glass, the product is more like a film or plastic foil and has greater potential to generate more output than conventional solar panels.
G24i has bought the licence for the new technology, which the assembly government says has worldwide potential.
More details of the investment are being announced by Enterprise Minister Andrew Davies later on Tuesday at the Wentloog site.