Italian, high-grade (9N) polysilicon start-up, Silfab S.p.A., has secured a €30 million investment in the company from Sino-American Silicon Product Inc. (SAS), a Taiwanese manufacturer of polysilicon wafers for use in both photovoltaic and semiconductor industries. Silfab has also entered into a 500MT per annum polysilicon supply deal with SAS that will start in 2010 and last six-years.
“With this investment, we have met our initial capital-raising goals, and are squarely on track to meet our original project schedule.” said Franco Traverso, Silfab Chairman and CEO. “Silfab is building strategic relationships with partners who truly understand the PV industry, and who will support our growth in very meaningful ways.”
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Pan Asia Solar, had invested the initial €54 million in Silfab, which in addition to the €30 million invested by SAS, brings the total equity capital raised to €84 million. Production of up to 5,000 metric tons per year is the target, starting in late 2009.