Worldwide Energy and Manufacturing USA (OTCBB: WEMU) is on a roll. They’re growing faster than ever, order backlog has ballooned to over $58 million, and we’re only in the first quarter of the New Year. Which is why the U.S.-based solar module manufacturing firm is looking to fully expand their solar research and manufacturing capabilities by owning their own factory.

In past quarterly reports WEMU has consistently cited the desire to transition into more direct solar manufacturing; however, the company has been constrained by having to lease factories and not owning them. Well that’s all about to change as WEMU is in the process of raising $8 million through a private placement of restricted common stock and warrants. By raising the remaining capital necessary to finalize the company’s much anticipated Nantong PV module factory in China and buying the remaining needed equipment, WEMU is now positioned to take on the direct manufacturing pursuits that they had envisioned. With the addition of the Nantong factory, the company will eliminate its reliance on subcontractors thereby controlling the entire production process while vastly improving profit margins. Bottom line, the addition of the Nantong factory allows WEMU to streamline its costs and differentiate itself as the low-cost, high-quality manufacturer.

By focusing on the enormous growth potential in WEMU’s solar division, the company looks to sustain triple-digit growth this year. According to CEO Jimmy Wang this financing “will allow us to accelerate our production schedules and increase capacity to meet the growing demand.” With the global solar energy market expected to double in the next three years, WEMU new facility is going to have a lot demand to look forward to.

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