Gates-Backed Firm Scraps Solar Factory Plan in Blow to Biden (1)

Solar manufacturer CubicPV is halting plans for a silicon wafer factory inside the US, dealing a setback to President Joe Biden’s bid to wrest clean-energy supply chains from China.

The Massachusetts technology firm backed by Bill Gates’ Breakthrough Energy Ventures instead will focus on developing specialized tandem solar modules as it cuts workers and eliminates positions tied to its earlier plans for a 10-gigawatt wafer factory. In addition, Frank van Mierlo will step down after 16 years as CubicPV’s chief executive officer, the company said.

CubicPV blamed market conditions — including plummeting prices for solar wafers — for the ...