The funding will help advance the development of its $90m industrial scale ‘River City” project, a solar panel recycling facility located in Florida.
River City Project: A Major Solar Panel Recycling Facility
The initial funding will support final engineering, permitting and pre-construction activities for the facility, designed to process 2 million end-of-life PV modules annually upon commissioning in 2027. The facility is expected to be one of the largest dedicated solar recycling operations in North America.
Khasma Capital Leads Investment Round
The round was led by Khasma Capital, an investment fund focusing on the circular economy.
"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. "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."
The Role of Solar Recycling in Clean Energy Growth
The project was also awarded a $14.5m investment tax credit under the Department of Energy's competitive Section 48C(e) Advanced Energy Project Program, established by the Inflation Reduction Act.
A New Era for Solar Panel Recycling
"The River City Project is purpose-built infrastructure for a new era of clean energy maturity," said André Pujadas, CEO of OnePlanet Solar Recycling. "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."
