New Mexico, United States [RenewableEnergyWorld.com] Iosil Energy Corporation has secured US $13.5 million in equity financing. The investment will allow the company to its polysilicon production pilot facility in one of several locations under consideration. The full investment will be used by the company to build out a pilot manufacturing plant and prepare for commercial introduction.
Iosil said that it is on the verge of commercializing its technology, which is designed for the production of 99.9% pure polysilicon. The company has demonstrated its ability to produce high-purity polysilicon from the waste material (kerf) created by wafer sawing operations, a market opportunity awaiting such a solution as well as via upgrading metallurgical grade silicon.
“Iosil is now moving from a successful research and development phase to a manufacturing scale-up of its technology. The solar market needs innovation throughout the value chain to reduce costs and enable growth in one of the largest segments of the renewable energy industry” said Earl Fuller, CEO of Iosil Energy Corporation. “We’re thrilled with the quality of silicon recovered from our industry’s waste stream, and this enabled us to achieve investment from important strategic players in the industry value chain, as well as financial investors.”
Iosil’s technology can be used to produce polysilicon from metallurgical grade silicon, the traditional feedstock source, but also as mentioned, can cost effectively recover and purify silicon from sawing waste streams. The company plans to work with the strategic investors, industry leaders in their markets, to enhance market opportunities and customer collaborations.
New investors BankInvest New Energy Solutions, SiC Processing, Bekaert, Epic Ventures, and Gideon Hixon joined existing investors EnerTech Capital, Cycad Group, and Espirito Santo Ventures, Milcom Technologies, Applied Ventures, Phoenix Fire and Merrimaker in the funding round.