Clean energy giant Parasol Elite Power to invest $300M in Merced, bringing 1,000 Jobs by 2027

MERCED, Calif. (KFSN) -- A clean energy company is setting up shop in the North Valley.

Parasol Elite Power manufactures storage batteries but they say they are revolutionizing the industry by manufacturing everything from a battery cell to energy transformers.

The company has international ventures and they're looking to open a new facility in Merced.

"We can go to Texas, we can go to Arizona, we can go to Nevada, nobody really cares. But we thought if we came into a great community, we could do that," Parasol Elite Power CEO Philip Levers said.

Levers says the company hopes to bring more technologies to the facility as it develops in the next few years.

Parasol Elite Power says it will invest about $300 million into the Merced community by the end of 2025.

By 2027, Levers says they will employ over 1,000 people.

This space is empty now but leaders at Parasol Elite Power say it will be filled with employees and clean energy manufacturing equipment.

It's a monumental impact for the community.

"Everybody in the private sector, in the public sector, in the city, county, state, federal government work together, collaborated, and now we have an opportunity with the bright future," Rep. Adam Gray said.

Deputy city manager of Merced Frank Quintero says the venture has been three years in the making.

"The company's CEO reached out to the governor's office of economic development, who then turned to our economic development department," he said.

Levers emphasizes the care he's taking to create a long-standing relationship with the community of Merced.

"I get emotional about it because it's something that's a tear to our heart. So, I hope that's that we can convey. That we are here to do something, but we are going to make it local," Levers said.

Equipment is expected to fill the empty facility by the end of 2025.

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