Iosil Energy

About Iosil Energy

Iosil Energy Corporation, founded in 2007 by Earl Fuller, operated as a development-stage company focused on the solar energy sector. The firm centered its research and development on creating a more efficient method for producing high-purity polysilicon, a critical raw material for manufacturing solar cells. Iosil Energy's proprietary technology was engineered to produce this essential material from two sources: standard metallurgical grade silicon and the waste material, known as kerf, generated during the wafer sawing process.

The company's core value proposition was a production process that consumed less energy and required less equipment compared to traditional methods, aiming to reduce costs throughout the solar value chain. This approach was intended to make polysilicon more affordable for its clients, who were primarily in the solar panel manufacturing industry. By targeting the recovery of silicon from sawing waste, the company addressed a significant market opportunity for recycling within the industry.

Throughout its operation, Iosil Energy secured significant venture capital funding to move from the R&D phase toward commercialization. A notable milestone was securing $13.5 million in equity financing in March 2010, which was earmarked for building a pilot production facility. This led to the establishment of a pilot plant in Groveport, Ohio, later that year. The company attracted a consortium of strategic and financial investors, including BankInvest New Energy Solutions, SiC Processing, Bekaert, and EnerTech Capital. Despite these efforts and raising a total of $14.8 million over several funding rounds, the company eventually ceased operations, with its status listed as 'Out of Business' as of February 2014.