Wafer manufacturing hopeful CubicPV introduced that its Board of Instructions has determined to halt the corporate’s U.S. wafer manufacturing plans and focus as a substitute on tandem module improvement. The corporate blamed market dynamics, together with a collapse in wafer pricing and surge in building prices, as the explanation behind its thwarted try at realizing home manufacturing.
CubicPV first introduced its intentions in 2022 to open a 10-GW wafer manufacturing unit in the US. The corporate, which additionally has analysis expertise in tandem silicon-perovskites designs, championed a “direct wafer” know-how that may make wafers straight from molten silicon. As a substitute of working with that novel method, CubicPV mentioned the U.S. manufacturing unit would begin with making conventional mono-wafers from ingots. Now the corporate is abandoning wafers altogether.
With the Board’s resolution to restructure the corporate, CubicPV may also cut back its workforce and get rid of positions tied to the U.S. manufacturing unit effort. Frank van Mierlo will step down as CEO following a 16-year tenure at CubicPV’s helm, and Tim McCaffery, International Funding Director at SCG, will assume CEO duties till a alternative is discovered.
“Along with our Board, we’ve concluded that the one factor that would really make a distinction in humanity’s combat in opposition to local weather change and the U.S.’s skill to appreciate a photo voltaic manufacturing renaissance is to invent a greater panel. Shifting ahead, the Cubic workforce is absolutely devoted to delivering this answer to the world. I’m pleased with what we’ve completed and know there’s extra to come back,” mentioned Frank van Mierlo.
CubicPV will now focus solely on its proprietary tandem know-how utilizing perovskite materials.
“Cubic’s engineering acumen and sturdy IP portfolio create a strong basis for development. SCG strongly believes that the Firm’s tandem know-how may very well be a photo voltaic breakthrough, remodeling the power panorama,” mentioned Tim McCaffery. “I look ahead to constructing on the workforce’s momentum.”
