OnePlanet Solar Recycling closes $7M seed financing round

OnePlanet Solar Recycling LLC, a Jacksonville, Florida-based solar panel recycler, has closed a $7 million seed financing round to advance development of its $90 million industrial-scale River City Project, a solar panel recycling facility located in Green Cove Springs, Florida.

OnePlanet says this initial phase of capital will support final engineering, permitting and preconstruction activities for the facility, which is designed to process more than 2 million end-of-life photovoltaic (PV) modules annually upon commissioning in 2027, with planned expansions for additional phases totaling 6 million modules by 2030.

The financing round was led by Khasma Capital, a New York-based investment fund focused on the circular economy and emerging energy transition assets. OnePlanet says Khasma’s investment reflects growing institutional recognition that solar recycling is not a strictly downstream issue, but a critical upstream opportunity essential to sustaining U.S. clean energy buildout at scale.

“OnePlanet has assembled a team with both deep technical expertise and a disciplined approach to infrastructure project execution,” says Ashlynn Horras, partner at Khasma. “This investment reflects our belief that solar module recycling is not only necessary; it is investable at scale with durable tailwinds driven by regulation, economics and resource security.”

OnePlanet’s River City project also was awarded a $14.5 million investment tax credit under the Department of Energy’s Section 48C(e) Advanced Energy Project Program, established by the Inflation Reduction Act. The tax credit specifically supports domestic advanced manufacturing facilities that recover and reintroduce critical materials—such as silicon, aluminum and copper—back into U.S. supply chains.

“The River City Project is purpose-built infrastructure for a new era of clean energy maturity,” OnePlanet CEO André Pujadas says. “Solar as an industry is now at an inflection point in its lifecycle where we can’t simply install megawatts—we must also build the industrial capacity to recover and reintegrate the very materials that enable it. This facility will be a cornerstone of that effort.”

Before founding OnePlanet, Pujadas held senior roles at steel companies Nucor Corp. and Severstal. During his tenure at Nucor, Pujadas was involved in advancing and implementing electric arc furnace- (EAF-) based operations.

“With millions of panels slated for decommissioning, the opportunity to recover high-purity silicon and reintroduce it as a captive, domestic feedstock parallels the EAF-era transformation we pioneered at Nucor,” he says. “OnePlanet is building the infrastructure to harness this untapped materials stream as a foundational input, not only for clean energy manufacturing but also for the U.S. semiconductor industry, supporting domestic chip production and fortifying critical supply chains for decades to come.”

According to OnePlanet, the River City project is being developed as a scalable, platform-level operating asset for a national network of facilities, supporting the buildout of a domestic closed-loop solar economy. The plant’s proprietary fully automated separation and recovery technologies are optimized for throughput and recovery of high purity streams, the company says.

The OnePlanet founding team brings experience spanning global finance, heavy industry and clean energy infrastructure.