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Silfab Solar Raises $100 Million to Scale Its Cell Manufacturing Facility in Fort Mill, S.C.
Silfab Solar Inc. (“Silfab”), North America’s leading photo-voltaic (“PV”) module manufacturer, announced that it has closed on $100 million of new financing to scale its state-of-the-art solar cell manufacturing plant. The $50 million equity investment was led by funds advised by ARC Financial Corp. (“ARC”) and includes investment from their existing co-investors. The company additionally raised a $50 million senior secured financing (the “Green Loan”) led by Breakwall Capital, an energy-focused asset manager and employee-owned firm committed to supporting the growth and improvement of conventional, renewable, and next generation energy companies, and includes an investment from SR Alternative Credit LLC (“SRAC”).
The Green Loan and equity financing will advance the overall capacity of Silfab’s cell production and PV module manufacturing within its new facility in Fort Mill, South Carolina, and to reshore US-made solar products that are in high demand by the company’s customers. Silfab’s newest US facility is scheduled to be operational by the end of this year.