CubicPV $103 million first mover in US solar wafer manufacturing

CubicPV has secured $103 million in equity financing for a US solar wafer factory, of which $33 million is available immediately and the rest tied to project milestones. The company intends to develop a 10 GW wafer factory. This is the first major wafer production facility announced in the US in the current era of reshoring. CubicPV is still deciding between two site options. CubicPV’s funding comes from shareholders led by SCG Cleanergy, Breakthrough Energy Ventures, and Hunt Energy Enterprises. Siam Cement Group, the parent of SCG Cleanergy, is a Thai industrial conglomerate while the latter two are backed by Bill Gates. For context on the issue of CAPEX cost, it takes $1 billion to build 5 GW of fully-verticalized…