OnePlanet Solar Recycling successfully closed a $7 million seed financing round to advance development of its $90 million River City Project, a solar panel recycling facility in Green Cove Springs, Florida.
Discarded solar cells. Credit: Solar Power World
This initial phase of capital will support final engineering, permitting, and pre-construction activities for the facility, which is designed to process over 2 million end-of-life PV panels annually upon commissioning in 2027, with planned expansions for additional phases totaling 6 million modules by 2030.
“OnePlanet has assembled a team with both deep technical expertise and a disciplined approach to infrastructure project execution,” said Ashlynn Horras, Partner at Khasma Capital, an investment fund that led the financing round. “This investment reflects our belief that solar module recycling is not only necessary, it is investable at scale, with durable tailwinds driven by regulation, economics, and resource security.”
In parallel with the equity raise, OnePlanet’s River City project was awarded a $14.5 million ITC under the Section 48C(e) Advanced Energy Project Program. The tax credit specifically supports domestic advanced manufacturing facilities that recover and reintroduce critical materials — such as silicon, aluminum, and copper — back into U.S. supply chains.
“The River City Project is purpose-built infrastructure for a new era of clean energy maturity,” said André Pujadas, CEO of OnePlanet. “Solar as an industry is now at an inflection point in its lifecycle, where we can’t simply install megawatts — we must also build the industrial capacity to recover and reintegrate the very materials that enable it. This facility will be a cornerstone of that effort.”
The River City project is being developed as a scalable, platform-level operating asset for a national network of facilities, supporting the buildout of a domestic closed-loop solar economy. The plant’s proprietary automated separation and recovery technologies are optimized for throughput.
News item from OnePlanet
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