- CubicPV has raised $103 million to support the buildout of a 10 GW solar wafer plant in the U.S.
- The planned facility is expected to create 1,500 new direct jobs.
CubicPV has raised a $103 million equity investment to support the buildout of a 10 GW solar wafer manufacturing plant in the U.S. and advance the company’s perovskite cell research and development.
The investment is split into two tranches, with the first $33 million being released immediately. The remaining $70 million is tied to “specific project milestones. SCG Cleanergy led the investment with contributions from Hunt Energy Enterprises and Bill Gates’ Breakthrough Energy Ventures.
The company said it has completed the conceptual design and scoping for the manufacturing facility and narrowed site selection to “two final possible locations.” They added that the necessary capital to finance the development and construction had been secured.
CubicPV is addressing a critical component of the solar value chain. Currently, no high-volume silicon wafer production exists in the U.S. The planned facility is expected to create 1,500 new direct jobs with the goal of meeting the anticipated surge in demand for American-made wafers.