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Graphene & Solar Technologies Limited announced that its U.S. manufacturing subsidiary, QSM USA, received approval…
GSTXGraphene & Solar Technologies Ltd
Graphene & Solar Technologies Limited announced that its U.S. manufacturing subsidiary, QSM USA, received approval from the California Alternative Energy and Advanced Transportation Financing Authority for a Sales and Use Tax Exclusion of up to $14,999,831. This incentive covers qualified property purchases totaling approximately $176 million associated with QSM USA’s planned silicon wafer manufacturing operations in Southern California. The exclusion is expected to reduce capital costs as the company advances toward its target of 10 gigawatts of annual production capacity by mid-2027. This approval follows a previously announced $45 million California Competes Tax Credit, jointly supporting the development of domestic solar materials supply chains outside China. Graphene & Solar Technologies Limited operates in the solar energy and advanced materials sector, developing integrated silicon wafer manufacturing capabilities.