BROWN, XUNLIGHT CORP. DISCUSS JOB-CREATING
GREEN ENERGY PROVISIONS FROM ECONOMIC RECOVERY PACKAGE

Brown Outlines How Bill Will Create New Jobs While Toledo-Based Green Energy Company Announces Plans to Utilize Green Energy Program in Bill

TOLEDO, OHIO –United States Senator Sherrod Brown (D-OH) and Xunlight Corporation Co-Founder, Chairman, and CEO Dr. Xunming Deng today joined company employees to discuss how tax incentives and funds in the economic recovery legislation will create new green energy jobs in Ohio.

Brown outlined how the economic recovery legislation can create new jobs by investing in green energy manufacturing, technology, and research.

“Ohio can become the Silicon Valley of advanced energy manufacturing, with companies in Toledo leading the way,” said Brown. “The economic recovery bill will help develop and commercialize green energy technology. It will also build upon Ohio’s manufacturing base to create new green energy jobs.”

“Xunlight is proud to be at the forefront of renewable energy development in Northwest Ohio, where we are fortunate to be able to utilize leading technology developed through the University of Toledo and have access to a strong technical and manufacturing workforce,” said Xunlight’s Deng.  “The fact that our workforce has nearly tripled in the last year reflects the tremendous growth we have experienced and the promise that renewable energy holds for this area. It is the commitment of community and governmental leaders such as Senator Brown that makes it possible for us to help make a positive contribution to the economic recovery, energy independence and environmental improvement”

Deng announced Xunlight’s plans to utilize a program passed in the bill aimed at promoting commercial scale renewable energy production. The American Recovery and Reinvestment Act includes nearly $60 billion in new loan guarantees through the Innovative Technology Loan Guarantee Program. Dang announced today that Xunlight will apply for a loan through this program, which is aimed at promoting commercial-scale renewable energy production such as wind or solar projects.

Beyond the guarantee program, the bill includes $30 billion for the Department of Energy (DOE) to develop advance energy sources while creating job. It includes $2 billion in grants for the manufacture of advanced battery system and $3.1 billion for states to promote renewable energy and efficiency programs.
The economic recovery legislation includes $20 billion in green energy tax incentives that are designed to grow jobs in the renewable energy sector by encouraging production of alternative energy sources. The bill extends the renewable energy production tax credit through 2012 and creates a new advanced energy investment credit for manufacturers of equipment or components. It also authorizes an additional $1.6 billion of new “clean renewable energy bonds,” which help finance facilities that utilize renewable energy sources.

Brown has been working to position Ohio as the “Silicon Valley” of alternative energy manufacturing. Earlier this year, he introduced legislation to provide grants for the production of green energy.

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