Published by: Kirstyn Petras<>
22 Apr 2025 @ 19:20 UTC

OnePlanet Solar Recycling, based in the US east coast state of Florida, has closed a $7 million seed round for financing the development of the company’s solar panel recycling facility, it announced on Tuesday April 22.

The $90 million industrial-scale River City project will be located in Green Cove Springs, Florida, and will be able to process more than 2 million end-of-life photovoltaic (PV) modules per year, after commissioning in 2027. The company has said that this capacity was expected to expand to 6 million modules per year by 2030.
The facility will recycle solar panels and produce glass, aluminium, copper and silicon for reintroduction into domestic US supply chains.
The initial phase of capital will support final engineering, permitting, and pre-construction activities for the facility.
The project was also awarded a $14.5 million Investment Tax Credit under the Department of Energy’s Section 48C(ed) Advanced Energy Project Program in January 2025.
According to the US Energy Information Administration, in 2024 Florida ranked third in the nation (after California and Texas) in solar power generating capacity, with solar power accounting for nearly 9% of the state’s total net energy generation.
Generation from small-scale PV systems was eight times greater in 2024 compared with 2019 in Florida, in part because state restrictions on leased solar PV systems, such as rooftop solar panels, have been removed, according to the EIA.
Khasma Capital, a New York-based investment firm, announced its investment commitment of $7 million in a separate press release on April 22.
With Khasma’s investment, OnePlanet is poised to bring online one of the most advanced and largest solar panel recycling facilities in the US, OnePlanet chief executive officer Andre Pujadas said in the Khasma Capital press release.
This groundbreaking infrastructure will not only further the environmental sustainability of the solar industry, he said, but also play a pivotal role in advancing circular supply chains within the broader clean energy sector.
The River City Project was expected to be one of the largest dedicated solar recycling operations in North America, and represents a strategic response to the accelerating wave of solar decommissioning anticipated over the coming decades, the OnePlanet announcement said. It would also support the buildout of a domestic closed-loop solar economy.
Pujadas, who previously held senior roles at Nucor and Severstal, compared the current situation in solar panel recycling to theadvancement of electric-arc furnace (EAF) technologyin the steel market.
With millions of panels scheduled for decommissioning, the opportunity to recover high-purity silicon – and to reintroduce it as a captive, domestic feedstock – parallels the EAF-era transformation we pioneered at Nucor, Pujadas said in the OnePlanet announcement.
OnePlanet is building the infrastructure to harness this untapped materials stream as a foundational input, he added, not only for clean energy manufacturing, but also for the US semiconductor industry, supporting domestic chip production and fortifying critical supply chains for decades to come.