ROSI Solar
High-value recovery of silver and ultra-pure silicon from end-of-life modules — where solar circularity becomes profitable.
approx. 3,000 t/yr
Module processing capacity
Grenoble plant throughput of end-of-life panels
approx. €20M+
Funding raised
Across seed and growth rounds since founding
approx. >90%
Silver recovery rate
Non-shredding delamination preserves recoverable silver
approx. 6N (99.9999%)
Silicon purity recovered
Suitable for reuse in new cell manufacturing
2017
Founding year
Spin-off tied to CEA-INES solar research ecosystem
2017
ROSI founded in Grenoble as a spin-off linked to CEA-INES solar research, targeting high-value material recovery from PV waste.
2019
Piloted a cold delamination process to separate silver, copper and silicon without shredding, preserving material purity.
2021
Raised approx. €20M in funding to move from pilot to industrial-scale recycling operations.
2022
Commissioned an industrial demonstration line in Grenoble with capacity of approx. 3,000 tonnes/year of end-of-life modules.
2023
Signed agreements with silicon and wafer producers to reintroduce recovered ultra-pure silicon into new solar cell manufacturing.
2024
Explored scale-up and replication of the process across additional European sites amid tightening EU circularity rules.
ROSI Solar's Grenoble facility shows how end-of-life PV modules can become a profitable feedstock rather than a landfill liability, recovering silver and ultra-pure silicon for reuse in new cells. For Indian developers and lenders facing a looming wave of module retirements as capacity scales toward 2030 targets, this is a template for building bankable, non-destructive recycling assets that convert regulatory obligation (EPR, e-waste rules) into a revenue stream, informing site selection, technology licensing and green-finance structuring well before mandatory take-back rules bite.
India's E-Waste (Management) Rules now bring solar panels under EPR obligations, and MNRE has floated draft guidelines for solar waste handling ahead of the first major wave of module retirements expected from the early 2030s as installed capacity scales toward 500 GW. Developers and utilities should proactively factor end-of-life costs into PPAs and financing models now, while lenders and green-finance vehicles can structure recycling infrastructure as bankable circular-economy assets, similar to how European climate-tech capital backed ROSI. Tender frameworks and PPP structures could bundle recycling obligations with large solar procurement, creating scale for domestic non-destructive recycling capacity rather than reliance on low-value shredding.
Engineering, procurement and finance lessons
01
Non-destructive delamination changes the economics
Avoiding shredding/crushing preserves silver and silicon purity, letting recovered materials re-enter high-value supply chains rather than low-grade scrap markets — a key design choice for any recycling plant business case.
02
Metal recovery, not just ESG, drives revenue
Silver and copper recovery, not module tonnage alone, are the primary profit levers; project financing models should size revenue on recovered-metal markets, not just processing fees.
03
Closing the loop needs offtake partnerships
Deals with wafer and cell makers to reuse recovered silicon validate demand and de-risk lenders; recyclers without such offtake face commodity-price exposure.
04
Proximity to R&D clusters lowers technology risk
Co-location with an established solar research institute reduced scale-up risk from lab to industrial plant, a factor Indian developers should weigh when siting recycling hubs near existing PV manufacturing or research clusters.
05
Feedstock security depends on regulation
Predictable volumes of end-of-life modules only materialise once take-back and EPR rules are enforced; recyclers must align capacity build-out with regulatory timelines, not optimistic waste forecasts alone.
Sources · PV Magazine · Reuters · CEA-INES · Bloomberg NEF · French Ministry for Ecological Transition
- Map India's EPR/e-waste rules against project timelines to help developers plan module take-back and recycling obligations early.
- Advise on technology licensing and JV structuring for non-destructive PV recycling plants suited to Indian feedstock volumes.
- Structure green-finance and PPP models that monetise recovered silver and silicon as investable circular-economy revenue streams.