October 29, 2010
$13 Million Awarded in Total to Expand Manufacturing of Renewable, Clean Energy and Energy Efficiency Products
KINGSTON, NY (October 29, 2010) The New York State Energy Research and Development Authority (NYSERDA) today announced the award of $1.5 million to the Kingston manufacturing firm of Precision Flow Technologies, Inc. to help the company expand its capacity to manufacture solar thin-film and LED production equipment.
Since 2007, NYSERDA has provided funding to help New York State companies develop or expand facilities to manufacture innovative renewable, clean energy or energy efficient products. Including this award, NYSERDA has competitively awarded $13 million to help nine New York State companies expand their operations and create jobs. These awards are projected to leverage more than $150 million in private sector investment.
Francis J. Murray, Jr., NYSERDA President and CEO said, “NYSERDA’s partnerships with companies that are manufacturing innovative products is helping support the growth of the clean energy economy in New York State. These cutting edge companies are creating the products that will help New Yorkers save energy, create jobs, and improve our environment for the future.”
“This investment is going to build on the federal support I've already helped deliver to create even more solar energy jobs here in the Hudson Valley,” said Congressman Maurice Hinchey. “As Precision Flow ramps up production, they'll hire more and more workers. Earlier this week I was proud to announce that a new company, LEDs America, would be setting up shop at Tech City and creating up to 100 new jobs. Today’s news is icing on the cake, and yet another example of how targeted investments from the Federal and State levels are helping make our part of New York a clean energy leader.”
“Helping local companies like Precision Flow secure government contracts is an important part of what we do,” said Assemblyman Kevin Cahill. “Teaming up with local business leaders like Kevin Brady and Precision Flow is how we are succeeding in transforming Hudson Valley businesses. I am proud to have helped with the successes of Tech City, this growing company and the good work of NYSERDA in making New York a leader in the new energy economy.”
“I commend NYSERDA for supporting Precision Flow Technologies, Inc. at this pivotal time," said Senator Bill Larkin. “This is just the type of public-private cooperation that is needed to keep New York at the forefront of emerging technologies. I want to thank Precision Flow Technologies for supporting the community by expanding their business and making Kingston and TechCity a leader in the field of clean energy and energy efficient products.”
“This support from NYSERDA will enable Precision Flow to accelerate our growth,” said Kevin Brady, President. “The markets for our products are growing at breakneck speed, and New York State’s investment in our growth will help ensure that we can grow fast enough to meet the demand.”
Precision Manufacturing is a key manufacturer of chemical delivery equipment, and is a global leader in process equipment technologies. This funding will allow Precision Flow Technologies to expand at its TechCity Kingston, NY site by improving material handling and storage, adding tool assembly bays, and increasing administrative and customer space. Funding is subject to successful development of a formal contract.
(518) 862-1090, ext. 3544
Last Updated: 12/10/2013