Image: United Solar Polysilicon (FZC) SPC
Waaree Energies said its U.S. manufacturing subsidiary, Waaree Solar Americas, has signed a binding term sheet to invest about $30 million in United Solar Holding Inc., a Cayman Islands-based polysilicon producer.
The investment will be made through the subscription of approximately 5.37 million Series B preferred shares in United Solar Holding, with the transaction expected to close on January 31, 2026, the company said.
Waaree described the deal as a strategic step to secure a long-term, fully traceable polysilicon supply chain to support growing manufacturing operations in the United States and other global markets.
Founded in May 2023, United Solar Holding produces high-purity polysilicon, a core raw material for solar cells and modules. The company operates a polysilicon production facility in Oman and maintains business operations in the Cayman Islands and Oman, Waaree said.
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