Let there be light ”¦ and money.
Saugerties-based Precision Flow Technologies earned a grant last month for $1.5 million to promote its activities with LED lighting and thin-film solar cells, including in Saugerties where it occupies 60,000 square feet and at its 135,000-square-foot facility in Kingston.
The New York State Energy Research and Development Authority (NYSERDA) funded the grant, which should help the company expand in the arenas of LED and solar power.
Since 2007, NYSERDA has provided funding to help New York state companies develop or expand facilities to manufacture what it terms “renewable, clean energy and energy-efficient products.”
Including this award, NYSERDA has competitively awarded $13 million to help nine in-state companies expand. NYSERDA claims the awards will leverage some $150 million in private-sector investment.
“Helping local companies like Precision Flow secure government contracts is an important part of what we do,” Assemblyman Kevin Cahill of Ulster County said in a statement. “Teaming up with local business leaders like Kevin Brady and Precision Flow is how we are succeeding in transforming Hudson Valley businesses. I am proud to have helped with the successes of Tech City, this growing company and the good work of NYSERDA in making New York a leader in the new energy economy.”
Cahill, who is chairman of the Assembly”™s energy committee, also restated his appeal for the passage of the Solar Industry Development and Jobs Act of 2011, “as a cost-effective mechanism to drive down costs, increase system reliability and improve air quality.”
“New York has a huge untapped potential for solar energy, particularly during times like these when our energy costs are through the roof and we are forced to rely on inefficient, dirty power plants to meet our electricity needs,” Cahill said.
Brady, president of Precision Flow, said in a statement, “This support from NYSERDA will enable Precision Flow to accelerate our growth. The markets for our products are growing at breakneck speed and New York state”™s investment in our growth will help ensure that we can grow fast enough to meet the demand.”
Francis J. Murray Jr., NYSERDA president and CEO, said, “NYSERDA”™s partnerships with companies that are manufacturing innovative products is helping support the growth of the clean energy economy in New York state. These cutting-edge companies are creating the products that will help New Yorkers save energy, create jobs and improve our environment for the future.”
“This investment is going to build on the federal support I’ve already helped deliver to create even more solar energy jobs here in the Hudson Valley,” U.S. Rep. Maurice Hinchey said. “As Precision Flow ramps up production, they”™ll hire more and more workers. Earlier this week I was proud to announce that a new company, LEDs America, would be setting up shop at Tech City and creating up to 100 new jobs. Today”™s news is icing on the cake and yet another example of how targeted investments from the federal and state levels are helping make our part of New York a clean energy leader.”
State Sen. Bill Larkin concurred. “This is just the type of public-private cooperation that is needed to keep New York at the forefront of emerging technologies. I want to thank Precision Flow Technologies for supporting the community by expanding their business and making Kingston and TechCity a leader in the field of clean energy and energy efficient products.”
Precision Flow also operates a 23,000-square-foot plant in Fort Collins, Colo., midway between Denver and Cheyenne, Wyo.
