Heliene Inc., a North American photovoltaic (PV) solar module manufacturer, has secured a $54 million investment from Transition Equity Partners (TEP). This strategic investment aims to boost Heliene's solar manufacturing capacity in the United States and support its continued expansion in the growing renewable energy market.

The funds will be used to develop a new 550 MW production line at Heliene's Rogers, Minnesota facility, adding over 150 full-time jobs and increasing the company's total U.S. manufacturing capacity to 1.5 GW annually. This expansion follows a $170 million raise in 2023 from Orion Infrastructure Capital (OIC) and other key partners.

Heliene has solidified several strategic partnerships, including a 2.0 GW supply agreement with Excelsior Energy Capital and a 1.5 GW deal with Nexamp, enhancing its position in the North American solar industry. The investment aligns with the U.S. goal of promoting domestic manufacturing under the Inflation Reduction Act (IRA), leveraging production tax credits and other incentives.

Martin Pochtaruk, CEO of Heliene, called the investment "a key milestone" that will help the company meet the rising demand for clean energy. Michael Allison, Partner at TEP, emphasized that Heliene's growth and market leadership make this an ideal opportunity to invest in U.S. solar manufacturing.

By focusing on partnerships with domestic suppliers like Suniva and SOLARCYCLE, Heliene aims to strengthen the U.S. solar supply chain and reduce reliance on imports, contributing to the nation's energy autonomy.