PVpallet, a company that manufactures sustainable shipping options for solar modules, has announced plans to establish its headquarters in Lee County, creating an estimated 26 jobs.
The Lee County Economic Development Group has been incubating PVpallet in its Montrose facility but now has plans to expand. Lee County will become the operations hub for PVpallet, including assembly, warehousing, and distribution, according to a release from the Lee County EDG.
PVpallet has developed a sustainable shipping option for solar modules to replace traditional wood pallets. The reusable pallets are made from recycled plastic and they reduce wood waste and module breakage.
Last week, the Iowa Economic Development Authority Board awarded the company $350,000 in loans and tax benefits to help fund the project through its High Quality Jobs (HJQ) program. As part of the IDEA program, Lee County is also providing a 20% match in the amount of a $70,000 loan. The project represents a $16.2 million capital investment in total.
“As PVpallet moves into full-scale production in 2022, the team at PVpallet is thrilled that these relationships with IEDA and Lee County will allow the company to enrich its new home community and benefit its neighbors. “PVpallet is humbled and grateful for the support from Lee County and the IEDA,” saiic Philip Schwarz, Co-founder and CEO of PVpallet in a news release. “We envision Lee County as a growing hub for domestic renewable energy, and we are excited to bring more industry, jobs, and infrastructure development to this wonderful community and its people.”