Silicor Materials Secures $105M in Equity Funding

Silicor Materials, Inc., a San Jose, California-based manufacturer of high-quality solar silicon and aluminum by-products, secured $105m in equity funding.

Backers included Icelandic pension funds as well as other strategic investors including Hudson Clean Energy Partners.

The company will use the capital for the construction of its first commercial-scale manufacturing operation in Grundartangi, Iceland.

Led by Terry Jester, Chairman and CEO, Silicor Materials produces solar silicon to meet the performance needs of PV manufacturers. Silicor’s process can produce solar silicon for use in PV wafers and cells that achieve conversion efficiencies in line with traditional materials. The equipment for the new factory will be supplied by SMS Siemag, a supplier of metals production tools, and construction of the facility will be completed by MT Højgaard out of Denmark. Local subcontractors in Iceland are also providing significant support.

The company, which has additional locations in Ontario, Canada and Berlin, Germany, is also backed by Advanced Technology Ventures and Globespan Capital Partners.



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