SolarManufacturer CubicPV to Build 10 GW Silicon Solar Wafer Facility in USA

American solar manufacturer CubicPV has announced that it has planned to establish 10 GW of conventional mono wafer capacity in the United States. The objective of the firm is to fill a marked void in the silicon solar value chain and capitalise on its expertise in silicon wafer production.

The planned factory will be the first of this scale in the USA and its expected to create 1,500 new direct jobs. CubicPV said that there is no high-volume silicon wafer production in the United States presently, and Cubic claims to be the only US company with a core competency in wafer manufacturing.

Frank van Mierlo, CEO, CubicPV, said, “The IRA represents a titanic shift in the global solar landscape, and the US is poised to become the world’s most competitive location to manufacture solar. We’re excited to have a role in the U.S. manufacturing renaissance while accelerating our business plan and supporting the development of our next generation tandem module technology.”

As per the official statement of CubicPV, held that it has started facility design, engaged with a construction management firm, and is currently in advanced discussions specific to the location for the facility. The Company expects to finalize the site choice during the first quarter of 2023, beginning construction soon after. Construction is anticipated to be completed in 2024 and the factory to be fully ramped in 2025.

CubicPV will also accelerate its R&D activities specific to tandem module development. To this end, the company announced that it has raised $26 million in Series B financing.

Sudhir Maheshwari, Managing Partner, Synergy Capital, stated, “With Direct Wafer and perovskite, Cubic has the key technologies to capture that growth. We are excited to lend our support as the Company establishes its U.S. footprint and drives toward tandem commercialization.”

Tim McCaffery, Global Investment Director, SCG, commented, “We are impressed with the strength of the Cubic team, the progress of their technologies, and their commitment to innovation.”

CubicPV claims to be the most experienced wafer producer in North America that delves in silicon crystallization and manufacturing. CubicPV’s core silicon and perovskite technologies provide semiconductor combination for high-efficiency tandem modules and lead to reductions in the cost of clean electricity with lower embedded carbon.

Synergy Capital is a specialized private equity manager investing across the capital structure in the Industrial, Metals and Infrastructure sectors globally.

SCG Cleanergy Company, a subsidiary of SCG, delves in offering power solutions from renewable energy including solar and wind energy in Thailand, entire ASEAN region and beyond.