Waaree Energies announced that its U.S. manufacturing arm, Waaree Solar Americas, has entered into a binding term sheet with United Solar Holding Inc. (USH), a Cayman Islands-based company, to invest around $30 million through the subscription of Series B preferred shares.
Under the agreement, Waaree Solar Americas will subscribe to about 5.37 million Series B preferred shares of United Solar Holding Inc. The proposed transaction is expected to be completed by Jan. 31, 2026.
The investment is a strategic move by Waaree to secure a long-term, fully traceable polysilicon supply chain to support its rapidly expanding manufacturing footprint in the U.S. and globally.
United Solar Holding Inc., incorporated in May 2023, is a producer of high-purity polysilicon—an essential raw material for the solar industry. The company operates an advanced polysilicon manufacturing facility in Oman and has a presence in both the Cayman Islands and Oman.
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