Silicon wafer manufacturer CubicPV plans to build 10GW of conventional mono wafer capacity in the US.

The planned facility is expected to create 1,500 new direct jobs and meet the anticipated demand for US-produced wafers.

According to the company, there is no high-volume silicon wafer production in the country.

Cubic CEO Frank van Mierlo 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.”

Besides commencing facility design, the company has engaged a construction management firm.

It is presently holding advanced discussions regarding the location for the facility.

It expects to finalise the site in Q1 2023, and commence construction soon after.

Construction of the facility is anticipated to complete in 2024, with it achieving full production in 2025.

Cubic will also speed up its R&D activities related to tandem module development.

For this purpose, the firm raised $26m in Series B financing.

The funding round was led by private equity fund manager Synergy Capital and SCG Cleanergy, a wholly-owned subsidiary of SCG, a conglomerate of ASEAN.

The round was joined by existing investors including Breakthrough Energy Ventures and Hunt Energy Enterprises.

Synergy Capital managing director Sudhir Maheshwari said: “Synergy is convinced of the power of tandem and its promise to underpin the next era of solar growth.

“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 commercialisation.”