The solar company initially made news three years ago because President and CEO Chuck Provini said he expected he would have to move the business out of the country.
He made a strong effort to stay in the United States and succeeded.
Since then, Natcore has grown rapidly through a partnership with the National Renewable Energy Laboratory and work to develop black silicon. It has formed strategic partnerships with solar panel manufacturers around the world and grown its technical staff at the Eastman Business Park in Rochester, New York.
The company has advanced its research and built prototype machines. It is on the cusp of commercialization.
In the last year, Natcore has raised capital through private placement of stock and opted to grow its business itself instead of relying on international partners to finance the growth and share ownership in its products.
The growth in New York is part of Natcore’s near-term goal of commercializing its black silicon and cutting-edge selective emitter technologies.
The average salary for Natcore’s 27 new employees will be $98,000 a year, according to a release from the company. The expansion is being driven by a $914,000 investment from Natcore, supported by $500,000 over 10 years from the Excelsior Jobs Program tax credits.
Natcore signed renewed its lease at the Eastman Business Park, expanding its space to 20,000 square feet, according to the release. The additional space will accommodate the equipment Natcore needs to perfect its black silicon and selective emitter technologies.
The company, based in Red Bank, New Jersey, also announced that it will move its lab administration to downtown Rochester as part of the New York expansion and tax credits.
"The Empire State Development incentive will help us to expedite the move of our technology from the lab to the factory floor,” Provini said. “We already have our eye on the first new lab hire afforded by this program, with more to come. We are making major equipment investments. We are moving from university-based research into the real world."