Moses Lake, Washington, USA - August 11, 2025 - 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.
Hanwha International LLC is a subsidiary of REC Silicon's two largest
shareholders: Hanwha Solutions and Hanwha Corporation.
This loan was executed through a third amendment to the existing USD 96.5
million short-term loan, which originally closed on January 24, 2025. It was
subsequently amended for the first time on February 5, 2025, and for the
second time on July 18, 2025. The maturity date of the amended loan remains
January 24, 2026, consistent with the original loan.
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, none of which have
yet been finalized or guaranteed.
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
2025-08-11 20:34 CEST.