SolarCycle
VerifiedDate | Investors | Amount | Round |
---|---|---|---|
* | $6.6m | Seed | |
* | $30.0m | Series A | |
Total Funding | $36.6m |
Recent News about SolarCycle
EditSolarCycle is a pioneering startup operating in the renewable energy sector, specifically focusing on the recycling of end-of-life solar panels. The company was established by experts in renewable energy, sustainability, and recycling, with a clear vision to create a circular economy for the solar industry. SolarCycle's primary service involves the transportation, sorting, and recycling of expired solar panels, extracting 95% of the value from these panels and returning it to the supply chain. This is a significant improvement on the industry standard recovery rate, which currently stands below 50%.
SolarCycle's business model is geared towards serving solar companies who are committed to sustainable recycling practices. Since its inception in 2022, the company has earned the trust of leading solar companies and has become a member of several industry associations, including the Solar Energy Industries Association's National PV Recycling Program, Advanced Energy United, and American Clean Power. These partnerships not only enhance SolarCycle's credibility but also help to increase the industry's commitment to recycling and environmentally responsible end-of-life management.
SolarCycle's revenue is likely generated from service fees charged to solar companies for the recycling of their expired panels. The company's advanced recycling technology allows it to extract valuable materials such as glass, silicon, silver, copper, and aluminum from old solar panels, which can then be used in the production of new panels. This not only contributes to a domestic supply of essential materials but also promotes a sustainable and environmentally friendly approach to solar energy production.
Keywords: Solar Energy, Recycling, Sustainability, Circular Economy, End-of-Life Management, Renewable Energy, Solar Panels, Material Recovery, Industry Partnerships, Advanced Recycling Technology.