Turnkey slurry recycling firm, CRS Reprocessing Services has received a debt facility of up to US$16 million from Triangle Capital Corporation and another financial partner to continue to expand its services to meet demand, particularly in the PV industry. The company said it has seen growth from the solar industry of over 50% in recent years.
“These funds will allow us to continue the extraordinary growth trajectory that CRS has experienced during most of this decade,” said Scott T. Massie, Chief Executive Officer of CRS. “We will deploy this capital throughout 2010 in our clean technology business. These business lines and associated markets, including the solar industry, are enabling us to achieve global growth rates in excess of 50 percent.
CRS has recently expanded its operations in Germany and also has facilities in the U.S. and Japan, which can supply specialized slurry formulas as well as turnkey recycling equipment and full in-house management.
“This model has seen double-digit growth rates for six straight years, and is now accelerating. The commitment of funds by Triangle is a strong affirmation of their belief in our CRS business model, as well as our industry and markets served,” added Massie.
Massie served as CEO of EPV Solar from 2007 to 2009.