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SOLARCYCLE Raises USD 30 Million to Scale Advanced Recycling for the Solar Industry

The infrastructure funding, administered by Fifth Wall Infrastructure and Special Situations Partner Alok Sindher, facilitates venture capital for SOLARCYCLE's unique Odessa, Texas factory.

March 16, 2023. By EI News Network

SolarCycle is advanced technology recycling enterprise that generates sustainable materials at scale for the solar industry declared that it has secured USD 30M in Series A funding, striving the company’s total endowment to USD 37M since its commission from the last year.

The fund consisting of company equity and infrastructure financing will be used to level up the company’s development in solar panel recycling potential and broaden materials remaking potential.

The solar acquisition is anticipated to progress by the end of this decade, rising from 150 GWp installed in 2021 to 650GWp installed every year in 2030.

The infrastructure funding, administered by Fifth Wall Infrastructure and Special Situations Partner Alok Sindher, facilitates venture capital for SOLARCYCLE's unique Odessa, Texas factory.

Kip Frey, Managing Director of HG Ventures discussed “SOLARCYCLE provides customers with the first scalable model for solar panel recycling, which aligns perfectly with HG Ventures’ mission to partner with innovative, high-growth companies that support a sustainable future. We are delighted to support SOLARCYCLE’s world class team in developing a business model that is both an economic opportunity and an environmental necessity”.

SolarCycle is based in Oakland, California-based recycling company. The entity is a futuristic drive devised to optimise solar sustainability by contributing solar assets as a low-cost, environment-friendly, all-inclusive process for recycling solar panels and technologies and refurbishing them for new uses.

Fifth Wall established in 2016 is the biggest asset manager concentrated to upgrade, future-oriented and decarbonizing the evolved world. The firm was instituted in Los Angeles and headquartered in New York and other offices enlisting San Francisco, London and Singapore.

HG Ventures is the corporate division of The Heritage Group based in Indianapolis, Indiana, USA. HG Ventures helps throughout The Heritage Group by contributing and collaborating with innovative, progressive companies to assist a sustainable future.

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