OCI Holdings to invest $265m in new Texas production plant
The $265 million facility is set to begin commercial production of 1 gigawatt cells in early 2026, with plans to expand to 2GW by the end of the year.
The initiative aims to strengthen the company's competitiveness in the US market, as US tariff policies against China have raised market uncertainties.
The project will establish a fully independent supply chain using OCI TerraSus polysilicon, which is produced in Malaysia with eco-friendly hydropower and complies with RE100 standards and the Uyghur Forced Labor Prevention Act. With the US facing a 90 percent solar cell supply shortage, OCI's production is expected to meet strong market demand.
The facility will also benefit from Inflation Reduction Act incentives, including a $0.04 per watt Advanced Manufacturing Production Credit and a 10 percent Investment Tax Credit for projects using US-made components.
'This marks the beginning of US-produced solar cells made with OCI TerraSus polysilicon,' said Lee Woo-hyun, chairman of OCI Holdings. 'This project will further strengthen our US solar value chain.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
2 hours ago
- Korea Herald
OSR Holdings Enters into Term Sheet to Acquire Woori IO, a Pioneer in Noninvasive Glucose Monitoring Technology
BELLEVUE, Wash. and SEOUL, South Korea, July 24, 2025 /PRNewswire/ -- OSR Holdings, Inc. (NASDAQ: OSRH), a global healthcare company advancing biomedical and wellness innovation, today announced it has signed a term sheet ("Term Sheet") with Woori IO Co., Ltd. ("WORIO"), a South Korean medical device company developing next-generation noninvasive glucose monitoring technology. The agreement sets forth certain key terms for a strategic acquisition of WORIO by OSR Holdings' Korean affiliate, OSR Holdings Co., Ltd. ("OSRK"). Under the proposed structure, WORIO will become a wholly owned subsidiary of OSRK. Shareholders of WORIO will receive newly issued shares of OSRK through the share exchange and may be eligible to convert them into OSRH common stock traded on NASDAQ, subject to certain conditions including "$10 per OSRH share" condition. Specifically, WORIO shareholders may convert their OSRK shares into OSRH shares at a fixed exchange ratio of 1 OSRK share = 12.96 OSRH shares, provided that OSRH's stock price reaches $10.00 at least once within three years following the signing of the Term Sheet. If this condition is not met, the parties have agreed to renegotiate in good faith. The agreement includes a 6-month exclusivity period, during which OSRK will conduct confirmatory legal and financial due diligence with a target to complete this transaction within this exclusivity period. WORIO's proprietary platform uses near-infrared spectroscopy (NIRS) to measure glucose without needles, sensors, or skin penetration — representing a truly noninvasive alternative to today's continuous glucose monitors (CGMs). Its solution aims to eliminate the burden of pain and daily finger pricks for millions of people with diabetes. According to recent global market research, the blood glucose monitoring devices market is expected to exceed $40 billion by 2030, growing at a CAGR of 8–10%, driven by rising diabetes prevalence and the convergence of medical technology with consumer electronics. Demand for noninvasive and wearable monitoring systems is expected to be a major growth driver. Dexcom, one of the market leaders in minimally invasive CGM which is the current standard of care has more than $32 billion in market capitalization (as of July 11), underscoring the significant commercial potential of advanced glucose monitoring solutions. Noninvasive alternatives hold tremendous promise and are poised to become an integral part of diabetes management in the future. WORIO has completed a proof-of-concept study with the Korea University Hospital (Guro) to validate the accuracy and effectiveness of its prototype devices and the data measured by them, based on which the company plans to enter a larger confirmatory trial to be registered with the Ministry of Food and Drug Safety (MFDS) of Korea for medical device approval pathway. WORIO's noninvasive technology is well positioned to be integrated into wearable glucose monitoring devices such as smart watches — WORIO has been selected by Samsung Electronics' innovative startup program ("C-Lab Outside") in Q1 2025. "We believe this initial milestone with Woori IO aligns strongly with our mission to accelerate breakthrough healthcare innovations with global impact," said Peter Hwang, CEO of OSRH. "Woori IO's breakthrough noninvasive glucose monitoring platform, coupled with its high-profile partnership with global companies, puts OSRH in a position to become a first mover in this fast-growing global market." Following the signing of this Term Sheet, both parties will proceed with due diligence and aim to execute definitive agreements within the 6 months exclusivity period. About OSR Holdings, Inc. OSR Holdings, Inc. (NASDAQ: OSRH) is a global healthcare holding company dedicated to advancing biomedical innovation approaches to health and wellness to support global health outcomes. Through its subsidiaries, OSRH is engaged in immuno-oncology, regenerative biologics, and medical device distribution. OSRH's vision is to acquire and operate a portfolio of innovative healthcare and wellness companies, improving patient care through cutting-edge research and development. For more information, visit About Woori IO Co., Ltd. Woori IO is a medical device company based in Jeonju, South Korea, focused on the development of noninvasive biosensing solutions. Its proprietary NIRS-based glucose monitoring system enables accurate, pain-free, and user-friendly diabetes management, with strong potential for wearable integration. For more information, visit
Korea Herald
4 hours ago
- Korea Herald
Lee seeks stronger ties in calls with German, Uzbek leaders
President Lee Jae Myung on Thursday held separate phone calls with his counterparts in Germany and Uzbekistan, his office said, to discuss strengthening bilateral cooperation. During his call with German Chancellor Friedrich Merz, Lee highlighted the strong relationship between the two nations. Merz agreed, noting that Germany and South Korea are important partners that share the core values of democracy, human rights and free trade. The two leaders also agreed on the hope of meeting at the earliest opportunity. In his conversation with Uzbek President Shavkat Mirziyoyev, Lee expressed his hope to elevate the "special strategic partnership" between South Korea and Uzbekistan. Mirziyoyev reciprocated by saying he holds a "special affection" for South Korea and wishes to see the relationship continue to grow. The two also acknowledged their countries' successful and practical cooperation in various sectors, including infrastructure and transportation. Lee requested Mirziyoyev pay special attention to the difficulties South Korean companies face while operating in Uzbekistan. (Yonhap)
Korea Herald
9 hours ago
- Korea Herald
EngineAI Raises Nearly RMB 1 Billion in Pre-A++ and A1 Rounds, Led by JD.com
SHENZHEN, China, July 24, 2025 /PRNewswire/ -- After securing investments earlier this year from leading Middle Eastern and South Korean investors, EngineAI has successfully concluded its Pre-A++ and A1 funding rounds. The Pre-A++ round was led by XPeng-backed Rockets Capital, while spearheaded the A1 round with participation from strategic investors CATL Capital (affiliated with CATL) and Yintai Group, as well as institutional investors TH Capital, Guochen Venture Capital (Fortune Capital affiliate), and Huangpu River Capital. Existing shareholders also joined the two rounds. The strong investor confidence allows EngineAI to enter into mass production, further diversify product lines, and achieve breakthroughs in the real-world deployment of embodied intelligence and related technologies. A rising star in humanoid robotics, EngineAI drives innovation through cutting-edge technology, delivering intelligent, hyper-agile robots. Its proprietary joint modules set industry benchmarks for explosive power, torque, and rotational speed, enabling lifelike motion. By solving Sim2Real challenges, the company has carved out a unique tech advantage, achieving millimeter precision in high-dynamic maneuvers like complex dances, front flip, and sprinting. The global humanoid robotics market is forecast to exceed $100 billion by 2030, driven by strong enterprise demand across manufacturing, services, and logistics. EngineAI's "open-source hardware + ecosystem profit-sharing" model accelerates market penetration through strategic partnerships, enabling rapid application diversification and developer engagement. To overcome embodied intelligence hurdles, the company merges traditional control systems with reinforcement learning, boosting efficiency, precision, and reliability. This dual approach not only truly meets market demands but also gradually penetrates into consumer households, forming a unique commercial ecosystem. The newly secured capital will enable rapid advancement of EngineAI's core initiatives in H2 2025: EngineAI has established strategic collaborations with industry giants including NVIDIA, Amazon, Tencent, and ByteDance to advance humanoid robotics applications across commercial services, hazardous operations, and cultural tourism. These partnerships are accelerating the path to large-scale commercial adoption. With production accelerating and certain production segments already exceeding capacity targets, EngineAI is on track to complete optimization upgrades ahead of Q4 2025. This expansion ensures reliable delivery of advanced robotic solutions, positioning the company for successful mass-market penetration. EngineAI is expanding its workforce across critical R&D, production, and market expansion roles. The company is simultaneously enhancing its internal training programs to develop employees' technical and leadership capabilities, building a sustainable talent engine for continuous innovation. Looking ahead, EngineAI will intensify efforts in mass production, product diversification, and embodied AI implementation, contributing core strengths to the high-quality development of the humanoid robotics industry.
