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CPS Glass USA prepared for construction, updated permits, and secured offtake deals as Equinox Partners LP joined the board. Image Credit/Source: Bruno/Pixabay
Canada-based Canadian Premium Sand Inc. (CPS) has received a $75 million tax credit from the US Department of Energy’s 48C program. The credit will support repurposing a former glass manufacturing site in the southern US for pattern solar glass production. CPS was one of 140 projects selected from over 800 applications. The tax credit is transferable and may be used for construction financing. CPS Glass USA Corp., its US subsidiary, is negotiating a joint venture with a strategic partner. The partner has expertise in glass manufacturing, purchasing power, and engineering capabilities. CPS is preparing for construction, updating permits, and securing offtake deals, with 60% of production under negotiation. A new board member from Equinox Partners LP brings corporate and financial expertise.