Silfab Solar Inc., a North American photovoltaic (PV) module manufacturing company, has announced an investment led by ARC Financial Corp. (ARC) to significantly expand Silfab’s U.S. solar production and supply chain footprint.
Silfab is the first energy transition investment from ARC’s Energy Fund 9. It includes co-investments by Ontario Power Generation Inc. Pension Plan and BDC Capital’s Cleantech Practice.
“Silfab continues to make significant investments in domestic manufacturing equipment and technology of solar panels that will lead the industry over the next five years,” says Paolo Maccario, Silfab’s CEO. “ARC’s strategic investment provides growth capital that enables Silfab to increase domestic production and sourcing and opens additional doors to new generations of modules. ARC’s North American energy focus supplements the solar-specific acumen of our pre-existing shareholders and this commitment from both groups will also mean more American solar jobs.”
With manufacturing facilities across North America to serve the expanding U.S. market, Silfab utilizes automation for ultra-high efficiency module production, leverages partnerships for next-generation technology applications, and offers warranties for residential and commercial performance.
“ARC spent extensive effort evaluating the solar industry for long-term investment opportunities that support and drive the global energy transition,” states Brian Boulanger, CEO of ARC. “Silfab’s North American-based team, automated manufacturing knowledge, product development pipeline and dedicated customer focus align with ARC’s commitment to supporting high-quality businesses. Based on current demand forecasts for PV solar, Silfab is ideally positioned for significant growth and this investment ensures the company is properly capitalized to execute on its plan.”
Silfab manufactures back-contact and mono passivated emitter and rear contact (PERC) PV modules for the North American residential and commercial markets.