Monllor Capital leads $4M equity round for Solx plant
Monllor Capital Partners LLC said it is leading a $4 million Seed-2 equity funding round for Solx Holdings LLC, backing the launch of a one-gigawatt solar module manufacturing facility in Aguadilla, Puerto Rico, that is expected to reach commercial production by the end of January.
The firm said it has executed a membership interests purchase and sales agreement with Solx, a domestically owned solar module manufacturer that is establishing what the company described as one of North America’s most advanced intelligent assembly lines.
The first tranche of the capital raise, totaling more than $1 million, closed this week, with additional closings planned for January, according to Monllor Capital.
Solx is developing a manufacturing facility designed to deliver up to one gigawatt of annual production capacity beginning in the second quarter of 2026, the company said.
The project represents an investment of more than $60 million and is expected to create more than 200 direct jobs in Aguadilla, along with additional positions across Puerto Rico in logistics, engineering and distribution.
“Solx is building a state-of-the-art manufacturing facility taking advantage of Puerto Rico’s highly skilled labor, local tax incentive and strategic location,” said José A. Torres, managing partner of Monllor Capital Partners. “This partnership offers investors a flagship opportunity to participate in the renewable energy makeover underway on the island.”
Solx said it aims to position itself as a domestic supplier within the U.S. solar supply chain, producing premium solar modules using N-type technologies and supporting multiple cell formats.
The company said its manufacturing process will incorporate advanced testing protocols and quality assurance systems aligned with Underwriters Laboratories (UL) and International Electrotechnical Commission (IEC) standards.
James Holmes, cofounder and CEO of Solx, said the company’s focus is on strengthening energy security through domestic manufacturing.
“Our mission is to strengthen North American energy security and give developers a stable, reliable supply chain they can count on,” Holmes said, adding that Puerto Rico plays a central role in that strategy.
Monllor Capital said the transaction is among its largest renewable energy investments in Puerto Rico and aligns with the firm’s broader focus on resilience, industrial development and long-term economic growth.
