Silfab Solar Taps New CFO to Steer U.S. Manufacturing Expansion

FORT MILL, S.C. – February 25, 2026 – Silfab Solar, a leading North American manufacturer of photovoltaic (PV) modules and cells, has appointed Phung Ngo-Burns as its new Chief Financial Officer. The move signals a strategic reinforcement of its leadership team as the company embarks on an aggressive expansion of its U.S. manufacturing capabilities, fueled by a surge in demand for domestically produced solar components.

Ngo-Burns, whose appointment was effective January 29, brings over 25 years of extensive financial and capital market experience to Silfab. She will oversee a wide portfolio including finance, accounting, capital markets, investor relations, and information technology infrastructure, playing a pivotal role in the company's next phase of growth.

A Strategic Hire for an Ambitious Expansion

The timing of Ngo-Burns' appointment is critical. Silfab is in the midst of a significant capital project in Fort Mill, South Carolina, investing over $150 million to establish a new facility projected to create 800 jobs. This plant is central to Silfab's strategy, designed to produce 1 gigawatt (GW) of high-efficiency N-type solar cells and 1.2 GW of advanced PV modules annually. The first deliveries from this site are anticipated to begin in 2025, marking Silfab's significant entry into American-made solar cell production.

This expansion is a cornerstone of the company's plan to build a more resilient North American supply chain. In a statement, Silfab President and CEO Paolo Maccario emphasized the importance of this new leadership.

“Silfab Solar is pleased to welcome Phung to our team as we gain momentum with our strategic growth plans and enter into exciting future phases of innovation and PV solar manufacturing, including the continued delivery of modules featuring our American-made solar cells,” Maccario said. “Phung’s industry knowledge and depth of experience will play an important role in our continued expansion to meet sustained demands for high-quality, American-made solar.”

Ngo-Burns' expertise in managing capital-intensive projects and securing financing will be essential. The company previously secured $100 million in new financing in late 2024 to scale the South Carolina plant, a combination of equity and a senior secured "green loan." Her leadership will be key to managing the financial architecture required for such large-scale industrial growth.

Navigating the 'Made in America' Solar Boom

Silfab’s expansion is part of a much larger trend transforming the American energy landscape. The Inflation Reduction Act (IRA) of 2022 unleashed a wave of investment into domestic clean energy manufacturing. Since its passage, private sector investment in U.S. solar and storage manufacturing has surpassed $100 billion, with U.S. solar module manufacturing capacity quadrupling by late 2024.

The IRA’s tax incentives, particularly the Section 45X Advanced Manufacturing Production Tax Credit, provide direct financial support for each domestically produced solar component, from cells and wafers to completed modules. This has fundamentally altered the economic equation, making U.S.-based production competitive against historically dominant overseas markets. For the first time in years, solar cell manufacturing has returned to U.S. soil, with Silfab's South Carolina plant being a key part of this reshoring movement.

Companies like Silfab are strategically positioning themselves to capitalize on these incentives and meet the growing demand for products that comply with domestic content requirements, such as those in the Build America, Buy America (BABA) Act. Ngo-Burns' role will involve navigating this complex regulatory and financial landscape to maximize the company's strategic advantage.

A Proven Financial Leader with Diverse Expertise

Phung Ngo-Burns brings a unique and highly relevant skill set to Silfab. Most recently, she served as CFO for Catalyze, a clean energy transition company focused on solar, battery storage, and EV charging solutions. This direct experience in the renewable energy sector provides her with an intrinsic understanding of the industry's financial dynamics and growth models.

Her background is notably diverse, including over 15 years in finance leadership at ExpressJet and Continental Airlines, where she served as CFO of ExpressJet, and a tenure as a senior director at the global consulting firm Alvarez & Marsal. This experience in capital-intensive, highly competitive industries like aviation has honed her skills in crisis management, operational efficiency, and scaling complex organizations.

Her capabilities have earned her significant recognition. In 2021, she was named the Overall Winner of the Adam Smith Awards' Treasury Today Woman of the Year. The award celebrated her success in delivering complex financial solutions and leading through organizational change, skills that align directly with Silfab's current trajectory of rapid growth and transformation.

Fortifying a Competitive Edge in North America

While Silfab is a leader in the North American solar market, it operates in an increasingly competitive environment. Industry giants like First Solar and Qcells are also investing billions to expand their U.S. manufacturing footprints, all vying for market share in the domestic solar boom. First Solar is developing a new 3.7 GW facility in South Carolina, while Qcells is building a massive, fully integrated silicon-based solar manufacturing campus in Georgia.

Against this backdrop, Silfab is carving out its competitive advantage through a focus on high-efficiency, premium products exclusively for the North American market and a commitment to technological innovation. The company has received innovation awards from the U.S. Department of Energy to develop next-generation back-contact solar cells with efficiencies exceeding 26% at its new South Carolina facility. The appointment of a seasoned CFO like Ngo-Burns is a clear move to fortify this position.

Her financial stewardship will be instrumental in ensuring Silfab’s ambitious expansion plans are not only realized but are executed with financial discipline and strategic foresight. As Silfab pushes forward with producing American-made cells and modules, her leadership will be crucial in navigating the financial complexities of the market and solidifying the company's role as a key player in America's clean energy future.