Solarcycle, a solar panel recycling company, announced the successful completion of their latest $30M funding round. This new capital will be used to build additional factories that will increase the company’s capacity from 300,000 panels annually to 1 million by the end of 2021.
Part of Solarcycle‘s model involves taking apart old solar panels for materials such as silicon, aluminum, glass and copper that can then be sold back to manufacturers. Not only does this approach reduce landfill waste and lessen emissions associated with new panel production, but it also creates jobs and factory sites related to the solar industry.
The new factories being built this year are part of an effort to increase Solarcycle’s production capacity and establish partnerships with leading companies in the solar industry across the US. In 2024 Solarcycle plans to create an “advanced vertically integrated recycling factory” with a goal of recycling millions of panels per year. Partnerships have already been established with Sunrun Inc., Silicon Ranch Corporation and other leading providers in the solar energy space.
Solarcycle is positioning itself as an attractive partner for those looking for green energy solutions due to its increased capacity for both recycling and creating partnerships with leading companies in the sector. The fundraising success reflects market confidence in these efforts; as CEO Ravi Shankar points out “The support we are receiving from investors is a testament to our advanced platform capabilities and commitment towards deploying proprietary technology solutions”.
For now, Solarcycle is focusing on ramping up production at their existing facilities while establishing more strategic relationships throughout the industry. With strong backing from investors and partners alike they are well equipped for continued growth over time in order to meet growing demand for sustainable energy solutions worldwide.
The proof is in the pudding; Solarcycle’s commitment to recycling solar panels and creating green energy solutions is evidenced through its successful fundraising efforts and partnerships with leading companies across the US. The company is making great strides to ensure that solar panel waste will no longer be a major issue, helping to lead us into a more sustainable future.
As solar energy continues to grow in popularity, it’s essential that we have companies like Solarcycle working to efficiently recycle the materials and help reduce waste associated with this type of renewable energy source. With their skyrocketing production capacity and strategic partnerships, they are setting themselves up as a leader in renewable energy sustainability efforts in years to come. The sustainable future is here, and Solarcycle is helping to make it happen.
Jonas Muthoni is an entrepreneur and renewable energy expert. He is the founder of MicroGridMedia.com, a website dedicated to bringing the latest news and information about solar energy and other renewable energy sources to the public. Jonas is passionate about promoting sustainable energy solutions and educating the public about the benefits of renewable energy. He is a regular speaker at industry events and conferences and is committed to driving the transition to a cleaner and more sustainable energy future.