OnePlanet Solar Recycling, a U.S.-based photovoltaic recycling company, has successfully secured $7 million in seed funding to expedite the development of its industrial-scale photovoltaic module recycling facility located in River City, Florida. The funding round was led by Khasma Capital, a venture capital firm focused on the circular economy. Additionally, the project received a $14.5 million investment tax credit (ITC) from the U.S. Department of Energy under Section 48C of the Inflation Reduction Act (IRA).
The total investment for the recycling plant is expected to be around <b>$90 million</b>, with plans for it to be operational by <b>2027</b>. Once completed, the facility will have the capacity to process over <b>2 million</b> discarded photovoltaic modules annually. Furthermore, there are plans to expand the processing capacity to <b>6 million</b> modules per year by <b>2030</b>. The plant will focus on recycling and extracting critical materials, including high-purity silicon, aluminum, copper, and silver.
For news tips and submissions, please contact Ms. Chen via WeChat/mobile at <b>13693626116</b> or via email at <b>chenchen@bjxmail.com</b>.
Subscribe to Polar Star Weekly to stay updated on exciting content!
<b>Note:</b> Polar Star shares content from other websites for informational purposes only, and it does not imply endorsement of the views expressed or verification of the information. All copyrights belong to the original authors. If there is any infringement, please contact us for removal. Content marked with *Polar Star is original and requires authorization for reproduction.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/oneplanet-solar-recycling-secures-7-million-funding-for-u-s-photovoltaic-component-recycling-facility/
