(October 23, 2024) – SOLARCYCLE®, a tech-driven recycling company focused on producing sustainable materials at scale for the solar industry, plans to issue municipal bonds through the Cedartown Development Authority (“CDA”) to support the overall capitalization of its planned Solar Glass Plant in Cedartown, Georgia.
At its meeting on August 7, 2024, the CDA approved the issuance of revenue bonds in an amount not to exceed $500 million. SOLARCYCLE plans to issue up to $150 million in tax-exempt revenue bonds and $100 million in taxable revenue bonds through the CDA. The bonds will provide funds to, among other things, finance certain capital expenditures of the Company related to the acquisition, construction and equipping of a recycled solar glass manufacturing facility in Cedartown, GA. The Company is currently considering a sale date prior to year-end.
This press release is neither an offer to sell nor the solicitation of an offer to buy the bonds or any other securities. The bonds will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from registration.
Contact: media@solarcycle.us
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About SOLARCYCLE, Inc.
SOLARCYCLE is leading the growth of the circular economy for solar in America. The company partners with the nation’s largest asset owners and manufacturers to recycle solar panels, recover valuable materials, and make key components for the next generation of solar panels and clean energy products. Through its circular economy solutions, SOLARCYCLE enhances the sustainability and resiliency of the solar supply chain in the US. Learn more at www.SOLARCYCLE.us.
