SolFocus gets $600K from San Jose

San Jose will give utility-scale photovoltaic maker SolFocus Inc. $600,000 in redevelopment funds to help the company move its headquarters and research and development lab to the city.

The funding for what’s called a “capital equipment assistance agreement” was approved June 16 by the San Jose City Council. The venture-backed company will move to 46,000 square feet at 1841 Zanker Road, in the Rincon de los Esteros Redevelopment Project area.

Since raising a seed round of funding in 2006, SolFocus has raised more than $170 million in funding. The $600,000 will help the company purchase necessary equipment; the move is expected to create 125 new jobs in San Jose.

At the end of 2009, there were 4,000 green economy jobs in San Jose, according to the Redevelopment Agency.

Plans call for SolFocus to seek Platinum LEED certification from the U.S. Green Building Council once upgrades to the building are complete and the company moves in later this year. The company also plans to set up a solar array in its parking lot and generate up to 20 percent of its power.

SolFocus currently makes its home in Mountain View, where it employees 80 people. But the company has separate lab facilities in Sunnyvale, and the ability to consolidate was key in making the decision to move.

Read the full story in the Silicon Valley/San Jose Business Journal.