The world’s second-largest polysilicon maker will provide
the kerfless wafer startup with a $15 million equity investment, a supply of
polysilicon and technical assistance. Kerfless wafer technology - which
eliminates the sawing of ingots - has long been hailed as an innovation that
can disrupt the heavy, messy and inefficient polysilicon and wafer supply
chain. However, for years this has been just potential, with no
commercial-scale production of kerfless wafers to challenge the dominant
process.
Today’s announcement by the largest Western polysilicon
maker that it is partnering with kerfless wafer start-up 1366 Technologies is a
powerful sign that this could change soon. 1366 had already secured US$32.5
million in its series C round, and additionally holds a contract to supply
Hanwha Q Cells with 700 MW of its Direct Wafer product.
Wacker Chemie’s choice to supply another $15 million equity
investment - bringing the series C round to $47.5 million - is a very strong
endorsement. The German chemical maker is one of the most established companies
in the polysilicon industry, and the only Western polysilicon maker to evade
Chinese tariffs.
In addition to the equity investment, Wacker has agreed to
supply the majority of polysilicon which 1366 needs for the commercial-scale
facility which it is planning, which the company says guarantees access to
high-quality materials.
Finally, the partnership will include technical
collaboration between the two companies, which will involve not only Wacker’s
silicon knowledge but its facility design, engineering and construction experience.
“We see the potential for the Direct Wafer technology to
provide an excellent contribution to accelerate global solar adoption,” stated
Wacker Polysilicon President Ewald Schindlbeck. “1366 has developed a
commercially valid answer to a long-time manufacturing challenge.”
1366 is planning a new factory in Upstate New York, which
will have the capacity to produce 250 MW of Direct Wafers annually, as the
first commercial-scale facility for kerfless wafers in the world. But while the
company notes that the $15 million that Wacker is supplying will pay for the
first $15 million in silicon it needs for the factory, the New York facility is
behind schedule.
1366 had earlier announced plans to begin construction in
the second quarter of 2016, and today reported that while site work is being
done, that the facility has not yet broken ground.
"We’re currently going through environmental reviews
and other requisite tasks (utilities to the site, etc.) associated with
readying the a new site - we’re the first tenant in what will eventually become
a large advanced manufacturing park - and are working very closely with the
State to move things along as quickly as possible," 1366 Spokesperon
Laureen Sanderson told pv magazine. "The construction timeline is
contingent on how quickly these early critical efforts proceed."
Sanderson describes the Wacker deal as an important
milestone for the factory. "The Wacker partnership not only demonstrates
market acceptance of the technology, it puts the factory on very solid
financial footing," she stated.
