H.I.G. Growth Partners News
fama PR (for Suniva)
Suniva Ranked as Georgia's Fastest-Growing Small Mid-Market Company on Georgia Trend's 2010 Fast 40 List
Industry-Leading Solar Company Recognized for its Sustained Revenue and Employment Growth
NORCROSS, GA - July 14, 2010 - Suniva, Inc., a U.S. manufacturer of high-efficiency monocrystalline silicon solar cells and modules, today announced it was named Georgia’s fastest-growing small mid-market company on Georgia Trend’s 2010 Fast 40 list. The award recognizes Georgia-based companies that have demonstrated sustained revenue and employment growth over the past three years.
To accommodate rapidly growing demand for its products, Suniva recently announced that the company has expanded its manufacturing capacity by adding a third cell line at its metro-Atlanta plant. The new manufacturing line will enable Suniva to hire additional employees in Georgia. In the past year, Suniva has created more than 150 new jobs and plans to hire 500 additional staff at a new manufacturing plant in Michigan - pending a DOE loan guarantee. Suniva employs a diverse workforce-approximately 30 percent of employees are military veterans and many others formerly worked at now shuttered automotive plants.
“We’re honored to be recognized by Georgia Trend Magazine as the fastest growing mid-market company in Georgia,” said John Baumstark, chairman and chief executive officer of Suniva. “Suniva is committed to expanding our workforce and helping Georgia become a leader in America’s new clean energy economy.”
This award continues Suniva’s momentum of recent achievements. In the first half of 2010, the company was named the “Renewable Energy Exporter of the Year” by the Export-Import Bank of the United States, and was ranked as The Wall Street Journal’s 2nd most promising Venture-Backed Clean Technology Company based on company management and capital strength. Suniva was also named by the Wall Street Journal as the 15th most promising Venture-Backed Company across all industries. In addition, the company was recently included in GreenTech Media’s list of the Top 50 VC-Funded Greentech Startups, and was named to the TIEcon Top 50 and AlwaysOn East Top 100.
With its expanding, diverse and skilled workforce, Suniva is producing world-class technology and generating record-setting screen printed solar cell efficiencies in development and production. For more information about Suniva and its products, please visit www.suniva.com.
Based in Norcross, GA, Suniva® manufactures high-efficiency monocrystalline silicon solar cells and high power solar modules with low-cost techniques in order to make solar-generated electricity cost-competitive with fossil fuels globally and is on a mission “to make solar PV sensible.” Suniva leverages exclusive licenses to critical patents and patent-pending intellectual property developed by founder and CTO, Dr. Ajeet Rohatgi, at the Georgia Institute of Technology's University Center of Excellence for Photovoltaic Research, which is funded by the Department of Energy. Led by an internationally regarded team of business executives and photovoltaic scientists, Suniva sells its advanced solar cells and modules Powered by Suniva™ worldwide, renewing U.S. leadership in the new energy economy. For additional information, please visit www.suniva.com.