The green tech and solar specialist Nexwafe from Freiburg (Baden-Württemberg) is planning to build a gigawatt factory in the USA – in particular to benefit from the solar funding boom there as part of the IRA.
The green tech and solar specialist NexWafe from Baden-Württemberg is expanding into the USA with solar energy technology. Photo: NexWafe
The Freiburg company, which is currently setting up its first commercial production in Bitterfeld (Saxony), wants to produce wafers with a capacity of six gigawatts per year. Despite the expansion into the USA, Nexwafe is committed to Germany as a location.
Greentech Baden Wuerttemberg Solar Startup Nexwafe USA. Foto: NexWafe
Greentech investors such as solar company Reliance New Energy provide support
Investors such as the solar company Reliance New Energy and the Saudi Aramco investment fund are supporting Nexwafe, which is currently conducting a financing round of 150 million euros, primarily to finance the construction of the factory in Bitterfeld.
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The greentech startup Nexwafe specializes in the production of wafers, the basic building blocks of solar modules, and wants to reduce production costs by up to 30 percent using a self-developed process.
The US market for renewable energy is currently experiencing a strong upswing thanks to the Inflation Reduction Act economic stimulus program.