Lysaker, Norway - 5 April 2021: The political environment in major markets
including the United States and Europe is highly and increasingly supportive of
diversification of the solar supply chain and development of localized solar
manufacturing to serve domestic demand for solar energy. Buyers of solar are
also increasingly focused on social and sustainability issues and high levels of
embodied carbon within the incumbent solar supply chain which greatly reduce the
ESG benefits of utilizing solar energy in replacement for fossil fuels. REC
Silicon (REC) anticipates additional policy support for alternative supply
chains and sustainably made solar materials and lower carbon solar panels, in
the near term.
REC Silicon advises that the strategic partnership between REC and Violet Power
(VP) announced on October 13, 2020 has been terminated. In line with the
positive momentum in the political environment which creates a better
opportunity for localized value chains than ever before, REC believes it yields
greater positive outcomes for its shareholders to collaborate commercially with
established, proven, active and relevant solar supply chain partners to optimize
the market opportunity for competitive, low-carbon locally produced solar
panels.
REC is also working with companies within the Ultra Low Carbon Solar Alliance, a
group of established and proven solar companies on various policy and
communication initiatives to realize the growing opportunities for a sustainable
solar supply chain.
For further information, please contact:
Francine Sullivan, Vice President Business Development
Phone: +1 509 750 1133
Email: francine.sullivan@recsilicon.com
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity polysilicon and silicon gas to the solar and electronics industries
worldwide. We combine over 30 years of experience and proprietary technology
with the needs of our customers, with annual production capacity of more than
20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on
the Oslo Stock Exchange (ticker: RECSI), the Company is headquartered in
Lysaker, Norway.
For more information, go to: www.recsilicon.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
release was published by Nils O. Kjerstad, IR Contact, REC Silicon ASA on 5
April at 11:00 pm CEST.