Innovative French firm Rosi, a specialist in the recycling and reuse of raw materials in the solar industry, successfully completed a capital increase raising €7.4 million in equity from Japan’s Itochu Corporation for its industrial development projects.
This fundraising will enable Grenoble-based Rosi to finance its first industrial site for recycling photovoltaic panels in France, to prepare its Europe and international expansion, and to strengthen its research, development and innovation activities.
Since 2017, Rosi has been developing disruptive technologies to separate and purify high-purity, high-value raw materials that are currently lost by the photovoltaic industry.
Following a rapid industrial development, the firm is the first company worldwide to establish an industrial photovoltaic panel recycling line capable of recovering high-purity silicon, silver and copper and reintegrating them into advanced industrial uses.
The fundraising, together with subsidies obtained through the France Relance Programme and a loan from BPI France, will enable Rosi to set up its first industrial line, located in Saint-Honoré, in Isère
This plant will be able to recycle 3,000 tonnes of photovoltaic panels. It will be operational in the first quarter of 2023 and will employ 20 people at start-up and around fifty in the long term.
In addition, the fundraising and several French and European projects will enable Rosi to strengthen its research and development efforts in order to remain at the forefront of technologies for the recycling of materials from the photovoltaic industry.
Osaka-headquartered Itochu has been involved in the development of renewable energy throughout the world for several years. Active in the trade of raw materials, photovoltaic panels themselves, and production equipment, Itochu is an expert in the photovoltaic industry and its growth drivers.
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