OnePlanet Solar Recycling LLC, based in Jacksonville, Florida, has secured $7 million in seed funding to develop the River City Project. This solar panel recycling facility, located in Green Cove Springs, Florida, will address the growing demand for solar energy and tackle the issue of solar panel disposal.
River City Project: Scaling Solar Panel Recycling
The $7 million raised will fund final engineering, permitting, and preconstruction activities for the River City Project. By 2027, the facility will process more than 2 million end-of-life photovoltaic (PV) modules annually. OnePlanet plans to increase capacity to 6 million modules by 2030. This project will reduce the environmental impact of discarded solar panels and promote a sustainable circular economy.
Investment by Khasma Capital
Khasma Capital, a New York-based investment firm, led the seed financing round. The firm supports the circular economy and emerging energy transition assets. This investment reflects the growing recognition that solar panel recycling is a key opportunity to support U.S. clean energy infrastructure. Ashlynn Horras, a partner at Khasma, emphasized that solar recycling is not just necessary but also a scalable investment opportunity.
Tax Credit and Long-Term Impact
Additionally, the River City Project received a $14.5 million investment tax credit from the Department of Energy. The tax credit, part of the Inflation Reduction Act, supports facilities that recover and reuse critical materials like silicon, aluminum, and copper. These materials will return to U.S. supply chains, strengthening both clean energy and manufacturing industries.
A Vision for U.S. Semiconductor Industry
OnePlanet CEO André Pujadas emphasized that the River City Project is a significant step in the evolution of the clean energy industry. As solar energy expands, the focus must shift from just installing capacity to developing infrastructure for recycling and reusing materials from decommissioned panels. Recovering high-purity silicon from old panels will support both clean energy manufacturing and U.S. semiconductor production, reinforcing critical supply chains.
Scalable Solar Recycling Network
Finally, the River City Project is designed as a scalable platform for a national network of solar recycling facilities. The facility will use advanced automated technologies to maximize throughput and recover high-purity materials. This project is set to play a pivotal role in the emerging U.S. solar recycling industry.
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