Tuesday, September 18, 2012
Aquion secures $10M loan guarantee from USDA
Advanced battery maker Aquion Energy received another incentive for its planned manufacturing facility in Westmoreland County, this time in the form of a $10 million loan guarantee through the Department of Agriculture’s Rural Development Program.
Announced late Monday afternoon by Sen. Bob Casey’s office, the loan guarantee is expected to help the company finance equipment purchases and renovations to the facility. Earlier this year, Aquion said it planned to build a state-of-the-art manufacturing facility to build its sodium-ion battery packs. In June, the company received a $15 million loan facility to help fund growth.
The company has said that, at full capacity, the facility should create about 500 jobs.
The company has 29 jobs listed on its Website for everything from human resources assistant and millwright to maintenance machinist and senior chemical process engineer.
Article courtesy of Pittsburgh Business Times