Silfab Solar Raises $125M to Execute First Phase for its USA Cell Manufacturing Facility, Including a 2nd Investment from ARC Financial

ARC is likely one of the most established energy-focused non-public fairness fund managers in North America. The newest funding displays ARC’s continued confidence in Silfab’s capacity to fulfill the rising demand for high-quality PV modules via a sustainable development technique guided by Silfab’s management crew and established of 40 years of expertise within the photo voltaic {industry}.

Silfab Photo voltaic Inc., a North American chief in photo-voltaic (PV) module manufacturing, right now introduced a second funding spherical led by ARC Monetary Corp. (“ARC”) to assist fund Silfab’s subsequent growth of made-in-America manufacturing together with home PV cell and module manufacturing at a 3rd facility to be opened in the US.

The $125 million funding from ARC’s Power Fund 9 contains co-investments in Manulife Monetary Company, Ontario Energy Era Inc. Pension Plan, CF Personal Fairness and BDC Capital’s Cleantech Follow. ARC is likely one of the most established energy-focused non-public fairness fund managers in North America. The newest funding displays ARC’s continued confidence in Silfab’s capacity to fulfill the rising demand for high-quality PV modules via a sustainable development technique guided by Silfab’s management crew and established of 40 years of expertise within the photo voltaic {industry}.

“Silfab is effectively positioned to fulfill North America’s rising urge for food for domestically manufactured cutting-edge photo voltaic merchandise. ARC stays assured that Silfab will probably be a driver of unpolluted tech manufacturing and product innovation within the US. Silfab continues to execute a powerful development plan constructed round its unwavering dedication to producing high-quality merchandise and its many years of innovation and expertise, “stated Brian Boulanger, CEO of ARC.

Silfab’s third US photo voltaic manufacturing facility is predicted to be absolutely operational by 2024 with an preliminary annual functionality of 1 gigawatt cell manufacturing and a further 1.2 gigawatts of PV photo voltaic module meeting. Investing in US-made photo voltaic cells is a essential element of a clear provide chain to assist the manufacturing of photo voltaic panels for North American prospects. The brand new facility is predicted to create greater than 800 new US jobs. Different particulars of the brand new facility, together with the placement, will probably be introduced at a future date.

“The home manufacturing of photo voltaic cells represents a strategic effort to keep up the administration of our provide chain and to make use of our technical experience from the start for a complete manufacturing course of,” stated Paolo Maccario , Chief Government Officer of Silfab. “Silfab has grown greater than 40 % since ARC’s preliminary assist. We’re grateful for our collaborative relationship with ARC and the Biden administration and its Inflation Discount Act, each of which have enabled us to speed up our US manufacturing technique. America and dependable vitality for purchasers to make use of to scale back prices and their carbon footprint.”

With manufacturing amenities throughout North America to serve the increasing US market, Silfab makes use of best-in-class automation for ultra-high effectivity module manufacturing, leveraging partnerships for next-generation technology expertise functions, and provides industry-leading warranties for residential and industrial efficiency.

ARC’s first funding, introduced in September 2021, allows Silfab to make additional enhancements to its manufacturing strains at its Washington amenities to deploy next-generation PV modules in shopper markets, enterprise, and institutional in North America.

Backed by a number of the greatest warranties within the {industry}, Silfab manufactures among the many most sturdy, dependable and highly effective photo voltaic PV modules for the North American residential and industrial markets. Silfab has recorded greater than a dozen manufacturing capability expansions, most lately at state-of-the-art PV module meeting vegetation in Washington state.

To examine Silfab’s whole product line, go to www.silfabsolar.com.

About Silfab Photo voltaic
Silfab Photo voltaic is the North American chief within the design, growth and manufacture of ultra-high-efficiency, premium high quality PV modules. Silfab makes use of 40 years of photo voltaic expertise and best-in-class applied sciences to provide top-rated photo voltaic modules from amenities in Washington state and Toronto, Canada. Every facility has a number of automated ISO 9001-2015 high quality licensed manufacturing strains that use just-in-time manufacturing to ship Purchase American accredited PV modules particularly designed and devoted to the North American market. www.silfabsolar.com

About ARC Monetary Corp.
Based in 1989, ARC Monetary Corp. dedicated to constructing high-performing companies that meet the world’s vitality and sustainability wants. To this point, ARC has raised $6 billion in 9 energy-focused funds since launching its non-public fairness enterprise in 1997, investing capital in additional than 180 corporations worldwide within the vitality sector. ARC has a various crew of funding professionals with deep area and capital market expertise and experience throughout the vitality spectrum. ARC Power Analysis Institute helps funding methods, proactively identifies key developments, and builds relationships with entrepreneurs, {industry} leaders, and authorities. www.arcfinancial.com