DYCM POWER ANNOUNCES U.S. SOLAR CELL AND MODULE FACILITY

Company aims to build one of the largest solar cell and module manufacturing facilities in the U.S.

NEW YORK, Sept. 10, 2024 /PRNewswire/ -- DYCM Power, LLC ("DYCM Power"), a joint venture formed by Das & Co., LLC and APC Holdings, LLC, today announced its plans to develop an $800 million solar cell and module manufacturing facility within the United States in partnership with Macquarie Capital. The facility will initially produce 2 GW of cells and modules annually, with a planned expansion up to 6 GW.

DYCM Power's integrated facility will produce advanced TOPCon cells and assemble them into modules, with shipments expected to start in the first half of 2026. DYCM Power is currently finalizing the site selection process in the southeastern United States.

From the start of production, DYCM Power's modules will meet domestic content requirements with full supply chain traceability and transparency. The company has already entered into a supply agreement with a leading U.S.-based polysilicon provider and secured an MOU with a leading North American glass manufacturer. DYCM Power intends to formally announce these agreements in the near future.

"The Inflation Reduction Act created a unique opportunity for the U.S. to re-establish itself as a leader in solar manufacturing," said Sriram Das, Co-Founder and Executive Chairman of DYCM Power. "With the support of Macquarie Capital and our world class partners, we are taking a significant step towards solar technology self-sufficiency and strengthening America's energy security, while also setting a new standard for quality and sustainability in solar manufacturing."

Richard Powell, Co-Founder and President of DYCM Power, added, "Our partnership with Macquarie Capital is a defining moment for DYCM Power. Working with one of the most experienced and respected names in clean energy investing globally, we will be able to scale faster to meet the significant unmet needs of our customers over the next decade, and in the process create hundreds of good-paying solar manufacturing jobs and have a significant economic impact in the U.S."

World Class Partnerships
Mortenson, a leading solar engineering, procurement, construction, and commercial contracting firm, will oversee the engineering and construction of DYCM Power's planned facility. Mortenson's team will include a workforce of several hundreds, many of which will be hired from the local community involved in the project, ensuring strong community engagement and local economic impact. "Mortenson is proud to lead the design and construction of this ambitious and transformative project," said Brad Heitland, Vice President of Project Development at Mortenson. "This initiative represents our unified commitment to advancing a clean energy future in the United States, while also helping to solidify the domestic content supply chain for our solar customers."

ECM Greentech Engineering, a subsidiary of the ECM Group, will be a key strategic partner to the project, providing DYCM with complete turn-key lines for the manufacture of silicon solar cells and assembly of solar panels. ECM Greentech is a leader in the manufacturing of high-quality, advanced solar manufacturing equipment globally. "ECM Group is proud to support DYCM Power in securing an innovative and sustainable solar manufacturing supply chain within the United States," said Laurent Pelissier, Chairman of ECM Group.

About DYCM Power
DYCM Power is a partnership between Das & Co., LLC and APC Holdings, LLC, two leading US-based investment firms with a shared global perspective and focus on sourcing attractive opportunities that generate outsized risk-adjusted returns for investor and partners. DYCM Power intends to create a vertically integrated solar manufacturing operation which will produce solar cells and modules at its planned facility in the Southeast U.S. For more information visit www.dycmpower.com

About Macquarie Capital
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie's balance sheet. Macquarie Capital has deep sector expertise in the aerospace, energy, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials, infrastructure, real estate, resources, software and services, technology, telecommunications, and media sectors. To learn more about Macquarie Capital, visit our website.

About Mortenson
Mortenson is a U.S.-based, top 25 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. The company has been a national leader in renewable energy for over 25 years with more than 15 years of solar energy construction experience. Mortenson has installed more than 95 solar energy projects across 17 states in the United States, providing more than 10 GWs of generation. Mortenson has operations across the U.S. with headquarters in Minneapolis, MN. For more information, visit www.mortenson.com

About ECM Greentech Engineering
ECM Greentech Engineering is a subsidiary of the ECM Group. The company has been dedicated to the design and commissioning of turn-key lines for the renewable energies and semiconductor industries for more than 30 years. It integrates equipment from ECM Greentech, which has pioneered the design and development of industrial size silicon growth furnaces and industrial equipment dedicated to the solar cell and semiconductor industries. For more information, visit https://ecm-greentech.fr/

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SOURCE DYCM Power