Moses Lake, Washington USA - June 20, 2024: REC Silicon ASA ("REC Silicon" or
the "Company") provides an operational update for the recently restarted
silane-based high-purity granular polysilicon production facility in Moses
Lake, Washington.
Due to delays in completing the clean-up process to improve product
consistency and remove impurities, the first delivery of product from this
facility is now expected to occur around mid-September 2024. As all other
construction activities are on schedule to be completed by the end of August,
the company remains confident in having 100% available capacity by the end of
2024. The company is in advanced processes of exploring funding options to
bridge any temporary financial gap that could occur before the first shipment
of product, primarily along the lines of existing debt financing.
As previously disclosed, Silane 3 is fully ramped and running stably and a
portion of the granular polysilicon reactors are online with their output
balanced to utilize the facility's silane production. The post reactor
polishing and finishing processes are operating but continue to be a source of
added impurity to the finished product. It is normal for a facility startup to
undergo a cleanup process as various parts naturally passivate due to the
interaction with materials, flows and temperatures. However, this process is
taking longer than anticipated and is the direct cause of the delay to the
first delivery of product.
The Company has a dedicated task force comprised of engineering, research and
development, operations, quality analysis and outside experts to expedite the
cleanup process. The focus of the task force is to achieve the quality target
as quickly as possible so that product deliveries may commence as well as to
implement solutions for expedited methods of cleaning up the system in the
future.
As a leading producer of silane gases and silicon materials, REC Silicon is
well-positioned to capitalize on the global megatrends of digitalization,
energy transition, and energy storage. The Company has developed a strong
market position in the Semiconductor industry based on its operations in
Butte, Montana. The successful restart of Moses Lake operations will enable
REC Silicon to provide ultra-high purity polysilicon to the US solar value
chain currently under construction while the Company also expects to supply
silane gas in significant volumes for anode materials to a fast-growing
battery industry.
Contacts
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Jack Yun
CFO
jack.yun@recsilicon.com
Nils O. Kjerstad
IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@recsilicon.com
About Us
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REC Silicon is a global leader in silane based high purity silicon materials.
We combine 40 years experience and best-in-class proprietary technology to
deliver on customer expectations. Our two U.S. based plants have a combined
production capacity of more than 30,000 MT of high purity silane gas. Our
Signature Silane® based products are used in everyday quality of life
technologies, emerging technologies, cutting edge power and memory devices,
high-voltage transmission, as well as renewables. REC Silicon is headquartered
in Lysaker, Norway and listed on the Oslo stock exchange under the ticker:
RECSI.
For more information, go to: www.recsilicon.com
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 19 no. 3. The information was submitted for publication
at 2024-06-20 20:50 CEST.