Jan 2010
Norwegian silicon recycling company SiPro
received NOK 14 million expansion investment from strong Nordic VC consortium –
Novus Energy Partners and Energy Future Invest.
Glomfjord,
Norway, Des 18, 2009 – SiPro, a Glomfjord (Norway) based silicon recycling
company, today announced that Energy Future Invest and Novus Energy Partners
invest to accelerate the development of SiPros leading position as silicon recycler and to fully finance the new
Singapore facility.
“Being able
to raise seed financing for a new PV service and support concept in times of
industry consolidation proves the strength of our team and business model”,
says Torstein Svendsgård, Managing Director of SiPro. “The proceeds, together
with support by Innovasjon Norge, allow us to speed up our development
process.”
SiPro is
currently building a new Singapore facility. The new silicon recycling plant
will have a production capacity of 2000 MT/yr.
SiPro was
founded in 2006 as a spin-off company from a world leading PV company. Its
modern technology and lean organisation, has strengthened SiPros position as
cost leader.
“After
several years of experience from investments in solar technology companies, we
are happy to find and be able to invest in such a fine company”, says Ola S.
Smeby, Investment Manager at Energy Future Invest. “Especially the low
production costs combined with high yield makes this interesting”, he points
out.
About SiPro
SiPro AS, recycles silicon ingot side plates,
blocks, top carbide cuts, bottom tails and also recovers metallic guides
Current
annual production run-rate is ~ 700 MT multi and mono ingot silicon, in
Glomfjord, Norway. The Company has 30
employees in Norway and the main owners are Novus, EFI and MNU.
About Novus
Energy Partners
Novus
Energy Partners is a transatlantic investment fund focused on emerging
companies in the New Energy industry. The Principals are pioneers in the sector
from the US and Europe who have formed, financed and led some of the
industry's most successful organizations.
About
Energy Future Invest
Energy
Future Invest AS (EFI) is a Norwegian venture capital company dedicated to the
CleanTech sector and with main focus on Clean Energy. EFI invests in technology
companies in the Nordic region and has already investments within small scale
hydro power, solar power, tidal power, heat pumps, microCHP and electricity
generation from waste heat. The two owners behind EFI are Eidsiva Energi and Statkraft.
(www.energyfutureinvest.com)
Contact
persons
SiPro:
Torstein Svendsgård,
Novus
Energy Partners: John Torvik, +47 94844595;
John.Torvik@novusenergypartners.com
Energy Future
Invest: Ola S. Smeby, +47 45296999;
Ola@energyfutureinvest.com
