CubicPV says it plans to construct 10 GW of standard mono wafer manufacturing capability in the USA, pushed by the incentives of the US Inflation Discount Act. The wafers might fill a void within the home provide chain and create 1,500 new direct jobs.
From pv journal USA
US-based CubicPV has secured new agency fairness commitments of over $100 million {dollars} to assist its US manufacturing plans and tandem photo voltaic product roadmap.
The primary $33 million will probably be launched instantly. The second tranche funding is tied to particular venture milestones. The capital is made by shareholders, led by SCG Cleanergy (an entirely owned subsidiary of SCG) with contributions from Hunt Power Enterprises and Breakthrough Power Ventures, a gaggle of funding funds that based by Invoice Gates.
“With its deep expertise in silicon wafer manufacturing and possession of extremely revolutionary proprietary applied sciences, Cubic is properly positioned to play a key function on this planet’s embrace of photo voltaic powered electrical energy era,” stated stated Tim McCaffery, SCG’s international funding director. “We proceed to be impressed by the tenacity of the staff, their progress towards plan and their dedication to innovation and excellence.”
Late final 12 months, CubicPV introduced plans to construct 10 GW of standard mono wafer capability in the USA. Because of US Inflation Discount Act incentives, the wafers produced on the new facility might fill a void within the home provide chain in addition to create 1,500 new direct jobs.
CubicPV stated it’s persevering with to advance its plan to construct wafer manufacturing capability within the US, after finishing conceptual design and scoping for the venture. The corporate narrowed the location choice resolution down to 2 last potential places, and engaged an industry-leading venture administration firm. It additionally indicated that financing is on monitor, receiving time period sheets that point out it’s going to exceed the required complete fairness for the brand new manufacturing unit.
“At this time’s announcement highlights the super progress we have made, the depth of our engineering experience and the energy of our applied sciences to ship a extra highly effective photo voltaic future,” stated Frank van Mierlo, chief government. official of CubicPV. “We thank SCG Cleanergy for his or her belief in our targets to create a product roadmap.
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