CubicPV develops silicon wafers and complementary perovskite technologies aimed at high-efficiency tandem solar modules. The company positions itself as an experienced North American wafer producer with proprietary silicon crystallization and materials innovations. CubicPV is executing a U.S. factory plan intended to produce 10 gigawatts of wafers and has completed conceptual design, narrowed site selection to two locations, and advanced detailed design with an industry project management partner. Leadership has been strengthened for the factory program with the appointment of David Gustafson as President of the new wafer facility to lead planning, ramp and operations. The company has offices in Bedford, Massachusetts, and Dallas. Financially, CubicPV secured firm equity commitments in excess of $100 million to support the factory and tandem roadmap, with the first $33 million tranche released immediately and a second tranche tied to project milestones. CubicPV combines 1366 Technologies' Direct Wafer® process with Hunt Perovskite Technologies' printed perovskite PV materials to develop tandem (multi-junction) solar modules. The company aims to commercialize tandem modules that layer a perovskite top cell over a silicon Direct Wafer bottom cell, boosting module power output by about 30% versus single-junction devices. HPT contributes a large patent portfolio of more than 160 patent assets and says it has addressed perovskite durability through improved chemistry and intrinsic material stability. 1366's Direct Wafer provides a cost advantage for the silicon bottom cell, which the release notes produces roughly one-third of a tandem device's energy while still carrying 100% of the production cost. The combined entity intends to pursue long-term tandem leadership and terawatt-scale solutions. CubicPV will operate immediately with offices in Bedford, Massachusetts and Dallas, Texas.

Total raised

$125M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2023