Moses Lake, Washington, USA - July 18, 2025 - Reference is made to the stock
exchange announcement by REC Silicon ASA ("REC") on 16 July 2025 regarding
updates on the Company's financial situation and the discussions with the
Hanwha Group.
REC Silicon Inc, a wholly owned subsidiary of REC Silicon ASA ("REC Silicon"),
announced today that it has entered into a USD 6.5 million short-term loan
agreement with Hanwha International LLC to fund the company's urgent
operational capital needs to continue its operations and cover its expenses
through July and into the first week of August.
Hanwha International LLC is a subsidiary of Hanwha Solutions and Hanwha
Corporation, which together are REC Silicon's largest shareholder.
This loan was an addition to the existing USD 90 million short-term loan as
amended, which closed on January 24, 2025. The maturity date of the amended
loan remains January 24, 2026, consistent with the original loan and all other
terms remain the same.
REC Silicon does not have sufficient available cash to meet debt service and
other anticipated operating cash flow requirements for this year without the
continued support of the major shareholder, Hanwha, or additional sources of
capital. Therefore, it will soon require additional financing beyond this loan
either from Hanwha or from other sources of capital.
Contacts
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Nils O. Kjerstad
IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@recsilicon.com
About REC Silicon
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REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity silicon gases to the solar and electronics industries worldwide.
We combine over 40 years of experience and proprietary technology with the
needs of our customers. 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 subject to disclosure under the Norwegian Securities
Trading Act, ยง5-12. The information was submitted for publication at
2025-07-18 19:41 CEST.