-Catalyzed by the Inflation Discount Act (IRA), Cubic Goals to Construct 10 GW of Standard Wafer Capability, Filling the Void within the Home Silicon Photo voltaic Worth Chain -Cubic Attracts New Traders, Synergy Capital and SCG Cleanergy, in Silicon Perovskite Tandem Assist Its Module Growth
Photo voltaic manufacturing innovator, CubicPV (“Cubic” or the “Firm”), at this time introduced that it plans to construct 10 GW of standard mono wafer capability in the USA, filling a big void in silicon photo voltaic worth. chain and leverages its deep experience. to fabricate silicon wafers. The deliberate facility, the primary of this scale to be introduced in the USA, is anticipated to create 1,500 new direct jobs and meet the anticipated surge in demand for wafers produced within the US. Right now, there isn’t any high-volume silicon wafer manufacturing in the USA, and Cubic is the one US firm with a core wafer manufacturing functionality.
“The IRA represents a titanic shift within the international photo voltaic panorama, and the US is poised to turn into the world’s best photo voltaic manufacturing location. We’re excited to play a task within the US manufacturing renaissance as accelerates our marketing strategy and helps the event of our next-generation tandem module expertise,” stated Frank van Mierlo, CEO, Cubic.
Cubic has begun designing the power, engaged a building administration firm, and is at the moment in superior location-specific discussions for the power. The Firm expects to finish website choice within the first quarter of 2023, starting building thereafter. Development is anticipated to be accomplished in 2024 and the manufacturing unit to totally ramp in 2025.
Along with responding to a said want for US wafer manufacturing with a ten GW manufacturing unit, Cubic additionally accelerates its R&D actions particular to tandem module growth. To this finish, the Firm introduced that it has raised $26M in Collection B financing. Personal fairness fund supervisor Synergy Capital and SCG Cleanergy, a completely owned subsidiary of SCG, ASEAN’s main conglomerate, led the spherical and had been joined by return lead traders together with Breakthrough Power Ventures and Hunt Power Enterprises.
Till now, the photo voltaic trade has primarily relied on single junction PV expertise or using a single light-absorbing materials, normally silicon, to transform daylight into electrical energy. This expertise is approaching a module effectivity ceiling. Tandem expertise introduces a much-needed resolution that layers two mild absorbers into one system, thus breaking the effectivity barrier of single junction units and growing the ability output of the top panel. Cubic’s method in tandem makes use of the Firm’s groundbreaking Direct Wafer and perovskite expertise to create an economically superior, high-efficiency module.
“Synergy is satisfied of the ability of tandem and its promise to help the following period of photo voltaic progress. With Direct Wafer and perovskite, Cubic has the important thing applied sciences to seize that progress. We’re excited to supply the our help because the Firm builds its US footprint and drives in direction of tandem commercialization,” stated Sudhir Maheshwari, Managing Accomplice, Synergy Capital.
“SCG Cleanergy is dedicated to investing within the subsequent technology of progressive clear vitality corporations and Cubic’s tandem modules will play a robust position in our clear vitality future,” stated Tim McCaffery, International Funding Director, SCG. “We’re impressed by the power of the Cubic crew, the development of their applied sciences, and their dedication to innovation. We stay up for supporting the Firm by this thrilling subsequent section.”
About CubicPV Inc.
With its world-class know-how in silicon crystallization and manufacturing, CubicPV is essentially the most skilled wafer producer in North America. The Firm’s improvements in photo voltaic manufacturing and supplies are additionally making a photo voltaic future outlined by extra highly effective tandem photo voltaic modules. CubicPV’s core silicon and perovskite expertise offers the best semiconductor mixture for high-efficiency tandem modules and results in dramatic price reductions in clear electrical energy with low embedded carbon. The Firm has places of work in Bedford, Ma., and Dallas. For extra data, please go to www.cubicpv.com.
About Synergy Capital
Synergy Capital is a specialised non-public fairness supervisor that invests throughout the whole capital construction within the Industrial, Metals and Infrastructure sectors worldwide. Synergy Capital focuses on crucial sectors that create sturdy human and financial impression, that are central to enabling the net-zero transition and the event of sturdy and sustainable provide chains. For extra data, please go to www.synergycapital.co.uk.
About SCG Cleanergy
SCG Cleanergy Firm, a completely owned subsidiary of SCG, was established to supply energy options from renewable vitality together with photo voltaic and wind vitality in Thailand and the ASEAN area and past.