The University of Albany and Ceres Technologies are coming together to work on a US$20 million project for the development of the next generation in solar cell manufacturing equipment. The Times Union writes that the deal is anticipated to create 250 jobs. Part of the US PV Manufacturing Consortium, the deal will also see Ceres Technologies get US$764,000 in tax breaks from the state, according to the Daily Freeman.

"By making critical investments in the growing nanotech sector, New York has made the Capital Region and Hudson Valley the place to be for manufacturers of nanotechnology," said Lt. Gov. Robert Duffy, who attended a news conference at Ceres to announce the deal.

Alain Kaloyeros, CEO of the NanoCollege, commented that the school will be looking at expanding its Halfmoon solar research centre. The Times Union noted that the college is expecting a pilot line using equipment developed through the new partnership to be located at the Halfmoon facility.