Photo voltaic producer CubicPV is planning to ascertain a 10GW mono wafer manufacturing facility within the US that it mentioned would be the “first of this scale” within the nation.
The plant would fill a void within the US PV manufacturing provide chain; the nation has no home photo voltaic ingot, wafer or cell manufacturing capability, in response to analysis from the Photo voltaic Vitality Industries Affiliation revealed earlier this yr.
97% of silicon wafer manufacturing capability is positioned in China, led by producers LONGi and TCL Zhonghuan.
A selection for the placement to construct the brand new facility is predicted to be finalised throughout Q1 2023, with development beginning quickly after and work to be accomplished in 2024. It will likely be totally ramped up in 2025.
The plant is predicted to create 1,500 new direct jobs and meet the anticipated surge in demand for home wafer manufacturing.
“The IRA [Inflation Reduction Act] represents a titanic shift within the world photo voltaic panorama, and the US is poised to turn into the world’s best location to fabricate photo voltaic. We’re excited to have a job within the US manufacturing renaissance whereas accelerating our marketing strategy and supporting the event of our next-generation tandem module expertise,” mentioned CubicPV’s CEO, Frank van Mierlo.
Along with planning to construct a home wafer manufacturing facility within the US, the corporate has raised US$26 million in Sequence B financing that may speed up its analysis and growth actions particular to tandem module growth.
Fashioned in 2021 following the merger of 1366 Applied sciences and Hunt Perovskite, CubicPV’s expertise makes use of the corporate’s Direct Wafer and perovskite processes.
The funding spherical was led by non-public fairness fund supervisor Synergy Capital and SCG Cleanergy and joined with returning lead traders together with Breakthrough Vitality Ventures and Hunt Vitality Enterprises.
“Synergy is satisfied of the ability of tandem and its promise to underpin the subsequent period of photo voltaic progress. With Direct Wafer and perovskite, Cubic has the important thing applied sciences to seize that progress,” mentioned Sudhir Maheshwari, managing accomplice at Synergy Capital.