SOLARCYCLE raises $6.6M to speed up the development of a sophisticated recycling platform for the photo voltaic business


SOLARCYCLE, a technology-driven photo voltaic system recycling platform, introduced that the corporate has raised $6.6 million in progress funding from main renewable vitality and round economic system buyers – together with SolarCity founders Peter and Lyndon Rive, former Sunpower Company Methods CEO/CTO Tom Dinwoodie, City Innovation Fund and Closed Loop Companions. “At SOLARCYCLE, we’re pushed by the pressing problem of maximizing the sustainability of the uncooked minerals wanted to energy the clear vitality revolution,” stated SOLARCYCLE CEO Suvi Sharma. “It is thrilling to have monetary backing from buyers who helped begin and develop the photo voltaic business, in addition to enterprise capital funds specializing in creating the infrastructure wanted for the round economic system. This funding will permit us to broaden our superior recycling operations in North America, enabling us to start managing the hundreds of thousands of photo voltaic techniques that will likely be retired within the years to return.

“Solar energy is the quickest rising supply of vitality in the USA,” stated Julie Lein of City Innovation Fund. “However with extra photo voltaic panels, there may be extra waste. SOLARCYCLE has an thrilling imaginative and prescient to rework the best way we recycle and reuse photo voltaic panels – and so they have the best staff to make it occur. The City Innovation Fund is delighted to help SOLARCYCLE.

“An increasing number of photo voltaic panels are being changed by newer variations. Older panels include high-value metals like silver, aluminum and high-grade silicon,” stated Peter Rive, co-founder and director Technical from SolarCity “I invested as a result of SOLARCYCLE has a recycling system that might allow cost-effective, high-volume recycling of large-scale photo voltaic panels.”

“I used to be concerned in commissioning the primary wave of large-scale, utility-scale photo voltaic installations, and I am thrilled to be concerned with SOLARCYCLE,” stated Tom Dinwoodie, co-founder of Sunpower. “I strongly imagine that the transition to a renewable economic system should be accompanied by specific consideration to the event of a round economic system to cope with the scarcity of minerals and the looming waste downside going through us. The SOLARCYCLE staff is nicely positioned to show this rising downside into a chance, and I invite them to deliver their technical perception and innovation to fulfill the recycling wants of the business. I’m satisfied that their success will guarantee a greater world for all of us.

“We’re thrilled to put money into the visionary and achieved staff at SOLARCYCLE, which helps to construct round economic system infrastructure for the photo voltaic business,” stated Danielle Joseph of Closed Loop Companions. “Because the demand for photo voltaic vitality will increase with an more and more pressing local weather disaster, it’s important that the supplies used for photo voltaic panels will not be wasted in landfills. SOLARCYCLE has the expertise, the operational expertise and the mission-driven ardour to assist deal with this rising and critically vital large-scale problem.We look ahead to seeing them advance their climate-friendly and cost-effective platform to return over 95% of all priceless supplies within the photo voltaic provide chain.

For extra data, go to www.closedlooppartners.com.


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