The global solar panel recycling market is expected to grow significantly, reaching a size of $2.7 billion by 2030. This growth is driven by the exponential increase in the amounts of waste generated by end-of-life solar equipment. Silicon, the main component of panels at 95%, is the most important and valuable material due to its vital use in the solar energy, electric vehicle batteries and semiconductor industries.
In this context, Circular Silicon Ltd, based in Hong Kong, has invented an advanced and unique mechanical technology in the world, which allows silicon to be extracted from damaged panels with a purity of up to 95%. This technology has the advantage of reducing carbon dioxide emissions by 90% and energy consumption by 80% compared to traditional methods.
The company currently operates a pilot plant in Germany, and plans to set up its first commercial plant in Hong Kong in collaboration with a local company. The plant is expected to begin operations by early 2027 and will be able to process approximately 10,000 tons of damaged panels annually. The company also plans to increase the production capacity of the new factory in Germany to reach 100,000 tons.
The company was founded in 2018 in Hong Kong and joined the Science and Technology Park (HKSTP) in 2021. The company targets customers in different regions such as China, Malaysia, Vietnam, Japan, South Korea, and Australia, especially manufacturers of solar panels, electric vehicle batteries, and semiconductors. Hong Kong’s strategic location, advanced logistics infrastructure and strong green financing environment are key factors that make it an ideal base for the company. (scmp)
