CubicPV Receives First Stage of $103M in Equity Financing
Solar manufacturing innovator, CubicPV announced it has secured new firm equity commitments in excess of $100 million dollars in support of its U.S. factory plans and tandem product roadmap. The investment will be split into two tranches, with the first $33M released immediately. The second tranche investment is tied to specific project milestones. Cubic’s strong shareholder base, led by SCG Cleanergy (a wholly owned subsidiary of SCG) with contributions from Hunt Energy Enterprises and Breakthrough Energy Ventures, committed the capital to further accelerate the Company’s growth strategy.
The investment reflects investors’ considerable confidence in Cubic’s ability to meet the expected demand for U.S.-produced wafers and lead the market transformation to tandem module technology. The ...