H.I.G. Growth Partners News
Jacoby Development and Suniva Make Solar Commitment to Aerotropolis Atlanta
Two Georgia Companies Aim to Create "Green Collar" Jobs
ATLANTA - April 2, 2009-In a major partnership agreement signed this week, Jacoby Development, Inc., developer of smart growth and sustainable development national model Atlantic Station, and Suniva, a Norcross based manufacturer of high efficiency solar cells, will collaborate on incorporating solar technology into Aerotropolis Atlanta, the redevelopment of the former Hapeville Ford Plant adjacent to Hartsfield-Jackson Atlanta International Airport.
The initial phase of the partnership includes the planned installation of up to 10 MW of solar power in the main parking structure of the redevelopment.
"Partnering with Suniva at Aerotropolis Atlanta promises to deliver environmental sustainability and economic development by bringing a Georgia company to the table with us," said Jim Jacoby, Chairman and CEO of Jacoby Development Inc.
Aerotropolis Atlanta, a 6.5-million-square-foot, 130 acre mixed-use redevelopment will be an aviation-intensive business district expected to include office, retail, restaurant, hotel and airport parking. And Suniva has been widely recognized, most recently in Governor Sonny Perdues State-of-the-State address, as a stand out company in the renewable energy sector bringing new technology and green jobs to Georgia.
"Building a new commercial center to attract jobs to the site of a former automotive plant is a great example of how American business reinvents itself, bringing new life and new opportunity to the community through innovation and hard work,"said Suniva CEO John Baumstark.
While the partnership between Jacoby Development and Suniva will begin with Aerotroplis Atlantas parking structure, both companies say they are investigating more opportunities to work together at this site and other projects.
About Jacoby: Jacoby Development Inc. has helped communities across the country create millions of square feet of retail space and thousands of jobs. The company now seeks out environmentally sensitive or impaired sites for redevelopment into mixed use properties that create value for communities. For additional information, please visit http://www.jacobydevelopment.com.
About Suniva: Based in Norcross, GA, Suniva manufactures high efficiency crystalline silicon solar cells with low cost techniques in order to make solar-generated electricity cost- competitive with fossil fuels. The company 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 worldwide, renewing U.S. leadership in the new energy economy. For additional information, please visit http://www.suniva.com