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October 12, 2023
SOLARCYCLE and Greenbacker Renewable Energy have formed a long-term partnership to recycle decommissioned solar panels.
The partnership will supply SOLARCYCLE with a volume of panels to help scale its operations and will also provide Greenbacker with a secure recycling contract. A press release from Greenbacker includes a quote from Jared Porpiglia, vice president of procurement at Greenbacker, stating, “by committing to this exclusive, multi-year partnership with SOLARCYCLE, we’ve created a cost reduction roadmap that aligns with Greenbacker’s long-term owner-operator mindset.”
“Greenbacker is receiving access to advanced solar panel recycling at cost-effective rates because we’re helping SOLARCYCLE hit the scale needed to extract and sell even more value from each recycled panel – all while furthering our mission to empower a sustainable world,” Porpiglia added.
The proprietary technology from SOLARCYCLE allows the company to extract 95% of the value from silver, silicon, copper, aluminum, and glass found in solar panels. This exceeds the industry standard, which is below 50%, according to the press release.
“As we grow and secure additional exclusive partnerships with sustainability-minded companies like Greenbacker, the cost of advanced recycling becomes increasingly attractive,” said Jesse Simons, chief commercial officer and co-founder of SOLARCYCLE.
“We are grateful for the trust and long-term partnership of Greenbacker, whose leadership will ensure that solar only grows more sustainable in the next few decades,” said Simons.
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