Schenectady, N.Y. – Schenectady County’s Metroplex Development Authority today announced that Advanced Energy Conversion, LLC will move to the City of Schenectady after considering locations throughout the Capital Region.
Susan E. Savage, Chair of the Schenectady County Legislature said, “This is exactly the type of technology company we want to attract to our community. Bringing new jobs to Schenectady County is our number one priority.”
Advanced Energy Conversion grew out of the electric power engineering program at RPI. For the past 5 years, the company has been located at the Saratoga Technology and Energy Park (STEP) operated by the New York State Energy Research and Development Authority (NYSERDA) in Malta, NY. The company outgrew its space in Malta and began to search for new locations in the Capital Region.
The company has signed a lease for 10,300 square feet at 450 Front Street, which is already home to Automated Dynamics, another Schenectady–based technology company. Eleven (11) full-time employees will relocate from Malta to Schenectady and the company expects employment to increase to 15 by 2011.
David A. Torrey, Chief Technology Officer at Advanced Energy Conversion said, “We are very excited about moving to Schenectady as the company begins production of our first proprietary product, an inverter for residential solar photovoltaic systems. We look forward to forging a close working relationship with Schenectady County.”
Founded in 1997, Advanced Energy Conversion provides contract engineering services that relate to the development of electrical energy conversion system that have application in distributed generation (renewable energy), transportation, and military systems. The Company has developed its first proprietary product with support from NYSERDA and the U.S. Department of Energy. An inverter is an essential element in a solar photovoltaic system, converting the DC power produced by the panels into AC power that can be injected into the home.
Dr. Torrey is currently active as an advisor and participating faculty member of the Union Graduate College, School of Engineering, and Advanced Energy. Conversion plans to work even more closely with the College to expand their programs in energy conversion/power electronics and renewable energy technologies.
Metroplex is providing a $50,000 grant toward relocation and fit-up costs.
Metroplex Chair Ray Gillen said, “We are very excited to have Advanced Energy Conversion move to Schenectady County. As headquarters to GE’s renewable energy business, we are seeing more and more interest from companies in this fast growing industry in locating in Schenectady County.”
For more information, see www.advancedenergyconversion.com.