CubicPV and OCI Holdings have announced a significant long-term supply agreement, formally agreed upon at a signing ceremony. Under this agreement, OCI’s subsidiary, OCIM Sdn.Bhd., will supply CubicPV with high-quality, low-carbon, and U.S.-compliant silicon over eight years, valued at approximately $1 billion.
This partnership secures an annual supply volume of polysilicon from OCIM for CubicPV’s forthcoming U.S. factory operations. The deal aims to mitigate supply chain risks by combining U.S. compliant silicon with domestically manufactured wafers, meeting the rigorous quality standards required by CubicPV’s customers.
The demand for U.S. compliant silicon is at an all-time high within the energy transition sphere. OCIM’s supply not only adheres to U.S. regulations but also aligns with the quality benchmarks set by CubicPV. Over the past six months, CubicPV has successfully produced significant wafer volumes using OCIM silicon, meeting or surpassing customer specifications.
Frank van Mierlo, CEO of CubicPV, expressed confidence in the manufacturing capabilities and U.S. manufacturing plans, citing OCIM’s high-quality silicon as a key factor in meeting the growing market demands.
Woo Hyun Lee, Chairman of OCI Holdings, emphasized the importance of this collaboration, marking CubicPV as OCIM’s inaugural U.S. customer. Lee underscored the significance of advancing a sustainable value chain in the energy transition landscape through such agreements.
This strategic partnership positions CubicPV to address the bottleneck in the U.S. solar value chain by fulfilling the rising demand for domestically produced wafers. The silicon supply from OCIM’s Malaysia facility, slated to commence in 2025 and powered by clean hydroelectricity, aligns with both companies’ commitment to environmentally conscious production practices.