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- Silfab Secures $100M to Expand Solar Manufacturing in the US
Silfab Secures $100M to Expand Solar Manufacturing in the US
Slice of Manufacturing Team
November 25, 2024
Key Highlights:
$50M equity investment led by ARC Financial Corp., with support from co-investors.
$50M Green Loan secured with Breakwall Capital and SR Alternative Credit.
Funds to scale Silfab’s solar cell manufacturing in Fort Mill, SC, operational by year-end.
Sustainable Fitch rates Green Loan alignment as "Excellent."
Expansion supports reshoring of US-made PV modules and clean energy production.
Source: Business Wire
Notable Quotes:
"American-made clean energy is and will remain in huge demand. We are thankful for the continued support of both existing and new investors in our mission to lead the reshoring of the PV supply chain – ensuring a sustainable supply of US-made PV modules."
"We could not be more excited to play a part in helping Silfab be a first mover with respect to domestic cell production while furthering the broader reshoring objectives of the entire solar manufacturing ecosystem in the United States."
Our Take:
Silfab Solar’s $100 million financing milestone marks a significant leap in strengthening the US clean energy supply chain. By scaling domestic solar cell production, Silfab not only addresses the growing demand for renewable energy but also bolsters US manufacturing capabilities, creating jobs and reducing carbon footprints. The “Excellent” rating of the Green Loan underscores its alignment with sustainability principles, reflecting Silfab’s commitment to a greener future. This funding positions the company as a leader in reshoring solar energy solutions, ensuring North America’s energy resilience.