Rec Silicon Asa: American made silicon

Recin q2 tulos ulkona:

REC Silicon ASA (REC Silicon) reported second quarter 2021 revenues of USD 35.6 million versus USD 28.0 million in the first quarter of 2021 and EBITDA of USD 7.9 million versus USD 4.0 million in the prior quarter. EBITDA during the second quarter included the forgiveness of USD 8.3 million in loans guaranteed by the US government under the C.A.R.E.S. Act.

The Company reported EBITDA contributed by the semiconductor materials segment of USD 11.5 million for the second quarter compared to USD 10.8 million for the first quarter. Second quarter results included other income of USD 4.5 million related to the forgiveness of a loan provided by the US government under the C.A.R.E.S. Act which has been recognized as grant income. Excluding this item, EBITDA decreased by USD 3.8 million. This decrease can primarily be attributed to lower EBITDA contribution from the semiconductor materials segment due to higher electricity prices, lower production to avoid high electricity prices, higher costs due to the acceleration of planned maintenance, and lower quality product due to an interruption of manufacturing caused by a lightning strike.

Silicon gas sales volumes for the second quarter were 819 MT compared to 781 MT during the prior quarter. Total polysilicon sales volumes for the quarter were 485 MT and polysilicon inventories decreased by 157 MT.

REC Silicon reported a cash balance of USD 123.6 million on June 30, 2021 compared to USD 131.5 million on March 31, 2021.

The demand for semiconductor polysilicon and silicon gases continued to strengthen over the last quarters and this trend is projected to continue. Overseas shipping limitations have affected the timing for some order fulfillments.

Ja tärkein lopussa eli tulevaisuuden sopparien osalta:

"REC Silicon’s negotiations with several Silicon Anode companies continue to progress, but agreements have not yet been reached. REC Silicon is exploring opportunities created by President Biden’s renewable energy agenda to utilize its proven FBR technology to provide low-cost, low-carbon polysilicon for the solar value chain. A US solar value chain will support the transition to renewable energy, create high-paying manufacturing jobs in the US, and result in the restart of the REC Silicon Moses Lake facility,” said Tore Torvund, CEO.

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Tuli myös korjaava tiedote tuohon q2 tulokseen. En nyt äkkiseltään huomannut, mitä olivat korjanneet…

Recin esitys Paretom energia konferenssista. Ei oikeastaan mitään uutta. Toistettu yhtiön käyvän keskusteluja useampien tahojen kanssa Moses lakeen liittyen.

Lisätäänpä taas Group14 liittyviä tiedotteita lokakuulta ja syyskuulta, kun ovat Recin silikonin kanssa naimisissa:

Farasis Energy, one of the world’s leading manufacturers of lithium-ion pouch batteries, announced today a significant performance milestone for EV batteries featuring lithium-silicon technology developed by Group14 Technologies, a global manufacturer of advanced silicon-carbon anodes.

A leading developer of automotive EV batteries globally, Farasis already delivers the highest-performing lithium-ion batteries on the market and has notable partnerships with automotive OEMs Daimler and Geely.

The largest manufacturer of lithium-silicon battery materials in the United States, Group14 plays a critical role in accelerating the growth of the state’s clean energy economy. Since the beginning of the year, the company has grown by 130 percent, hiring for positions across the board from engineers to marketers to process operators for its Woodinville headquarters and factory. As the company continues to scale, it expects to open up more manufacturing positions at its BAM factory to support customer demand for its lithium-silicon product, SCC55.

“Two of the biggest reasons we decided to base Group14 in Washington are the access to clean power as well as the state’s aggressive sustainability initiatives to rapidly decarbonize over the next few decades,” said Rick Luebbe, CEO and co-founder of Group14 Technologies. “It is encouraging to see strong public and private support for the development of a local clean energy economy, and we are committed to opening the door to clean manufacturing jobs as we continue to scale.”

E: ja vielä elokuulta:

The largest manufacturer of lithium-silicon battery materials, Group14 is now capable of producing 120 tons per year of its patented anode technology, SCC55™ from its first domestic Battery Active Materials (BAM) factory in Woodinville, Washington. While the majority of the factory’s current production capacity has been earmarked for the company’s consumer electronics customers, the factory also provides EV-sized batches of materials to auto-focused customers as part of the qualification process.

“In order to truly enable the electrification of everything, successful and sustainable EV adoption will hinge on energy storage breakthroughs,” said Rick Luebbe, CEO and co-founder of Group14 Technologies. “With this partnership with InoBat, we are taking a leap to enable automotive OEMs to meet and exceed cost-parity all while delivering unparalleled performance and mitigating carbon emissions on a global scale.”

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Osari tulossa Wednesday, October 20, 2021 at 7:00 a.m. CEST.

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Onnen päivä Recille. Ja huomatkaa preemio suhteessa päätöskurssiin n. 15 NOK. Osake ollutkin haltissa koko aamun tätä kirjoitettaessa

Aker Horizons ASA’s wholly owned subsidiary Aker Horizons Holding AS (“Aker Horizons”) has today entered into an agreement with South Korea’s Hanwha Solutions Corporation (“Hanwha Solutions”), one of the leading solar PV manufacturers in the US, and with REC Silicon ASA (“REC Silicon”).

Hanwha Solutions will acquire 21,891,275 shares in REC Silicon from Aker Horizons and will subscribe for 48,213,001 new shares in REC Silicon through a private placement in REC Silicon. Both transactions are conditional upon each other and will be completed simultaneously, and are done at the same share price of NOK 20 per share.

The private placement will provide approximately NOK 964 million in proceeds to REC Silicon, and will be implemented based on the existing authorization granted to the board of REC Silicon. The share sale will provide proceeds to Aker Horizons Holding AS of approximately NOK 438 million. Following the transaction, Aker Horizons and Hanwha Solutions will each own approximately 16.67 percent of the shares in REC Silicon

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Tässä PV-Magazinen tiivistämänä:

Itse lähtenyt kelkkaan isommalla riskillä kun mitä päivän tieto suhteessa ML:n avaukseen on, osakkeen hinnan ollessa nyt hyvin lähellä omaa entryä. Ts. vielä ehtii ketjun seuraajat tutustumaan aiheeseen ja tekemään omat johtopäätöksensä. :+1:

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Hanwhan sijoitus Reciin saatu päätökseen:

Reference is made to the announcement on 18
November 2021 regarding the entering into an agreement between REC Silicon ASA
(“REC Silicon” or the “Company”), Hanwha Solutions Corporation (“Hanwha
Solutions”) and Aker Horizons ASA, through its subsidiary Aker Horizons Holding
AS (“Aker Horizons”) pursuant to which REC Silicon shall issue, and Hanwha
Solutions shall subscribe for, 48,213,001 new shares (the “New Shares”) in REC
Silicon at a subscription price of NOK 20 per share, totalling approximately NOK
964 million in proceeds in a directed share issue (the “Share Issue”) and Aker
Horizons shall sell and Hanwha Solutions shall acquire 21,891,275 existing
shares in the Company (the “Share Purchase”) at a price of NOK 20 per share
simultaneously with the Share Issue. At completion of the Share Issue and Share
Purchase (the “Transactions”), Aker Horizons and Hanwha Solutions will each own
approximately 16.67 percent of the shares in REC Silicon.

The waiting period to object to the transaction or request additional
information in connection with the requisite filings pursuant to the Hart-Scott-
Rodino Antitrust lmprovements Act of 1976 to US Federal Trade Commission and US
Department of Justice has now expired, and accordingly all conditions for
completion of the Transactions have been satisfied. The Transactions are
expected to be completed on or about 19 January 2022.

The Transactions are expected to strengthen REC Silicon’s financial position and
ensure that the Company has the necessary resources to reopen its FBR facility
in Moses Lake, Washington, and enable valuable investment opportunities in
Butte, Montana. Hanwha Solutions’ strategic investment in REC Silicon represents
a step towards establishing a highly efficient, low carbon solar value chain in
the US and to ensure that REC Silicon plays an integral role in these efforts.
Hanwha Solutions’ knowledge, expertise, and capabilities are expected to enhance
REC Silicon’s ability to take advantage of opportunities and developing markets
in the solar, semiconductor, and battery industries. A US value chain for solar
PV manufacturing will result in the creation of demand for solar grade
polysilicon, which the Company expects will result in the restart of the
manufacture of high quality, low-cost solar grade granular polysilicon in Moses
Lake, Washington.

Ja vielä Group14 tiedotetta marraskuulta:

Group14 Technologies, a global manufacturer of the active material used in advanced silicon-carbon anodes, and StoreDot, the pioneer of extreme fast charging (XFC) battery technology for electric vehicles, today announced a strategic partnership to leverage Group14’s proprietary lithium-silicon technology to accelerate time to market of StoreDot’s XFC lithium-silicon cells for electric vehicles. The current performance milestone demonstrates an energy density of 300Wh/Kg with over 700 cycles capable of being charged 0%-80% in 10 minutes.

StoreDot, a pioneer of XFC technology, whose investors include BP, Daimler AG, TDK and Samsung, has revolutionized the conventional lithium-ion battery by designing a battery cell based on a silicon-dominant anode with its proprietary synthesized compounds. The XFC technology overcomes the major barrier that currently prevents consumers from adopting electric vehicles - range and charging anxiety.

“We are extremely excited by the prospects of this partnership with Group14. This partnership will give StoreDot the potential to accelerate the time to market of our XFC cells and reduce battery cost which can eventually be passed onto customers,” said Dr. Doron Myersdorf, StoreDot CEO and co-founder. “It supports our mission of making it easier for consumers to adopt zero-emissions electric vehicles, contributing to a cleaner net-zero world.”

Silicon has been pursued extensively as the promising battery chemistry that enables greater energy density. The commercial leader in lithium-silicon battery materials, Group14’s proprietary technology complements StoreDot’s XFC technology in EV batteries as a solution to overcome known range and charging anxiety.

Group14 counts SK materials, ATL, BASF, Showa Denko and Cabot Corporation as partners in its mission to deliver on the electrification of everything from consumer electronics to EVs and more. With commercial-scale Battery Active Materials factories in the U.S. and South Korea – the latter as part of its joint venture with SK materials – Group14 is poised to deliver quantities of its mass-market product SCC55™ required to meet the demand from the automotive industry.

“As we scale new technologies to meet growing demand in the EV sector, one factor we cannot overlook is the importance of lowering the barrier to entry to EV ownership,” said Rick Luebbe, CEO and co-founder of Group14 Technologies. “We see the partnership with StoreDot as a union of the best of both worlds: high energy density and extreme fast charging, both critical elements of the electrification equation that consumers are demanding. With a solution that addresses both of these concerns, we now can forge a pathway to the electrification of everything.”

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Otetaan vielä Hanwhalta tiedotetta sijoituksiin liittyen:

Näemmä tuolta ei saa kopioitua tekstiä, joten sieltä voi lukea lisää. Tiedotteessa mainitaan solar energy manufacturing for america act, joka toisi verokannustimen aurinkokennojen valmistamiseen. Kyseistä aloitetta ei ilmeisesti ole vielä hyväksytty laiksi vaan tilanne on tietojeni mukaan seuraava (uutinen marraskuulta. Hyväksytty alahuoneessa, mutta senaatissa ilmeisesti vielä jumissa):

This morning the U.S. House of Representatives passed U.S Senator Jon Ossoff’s landmark Solar Energy Manufacturing for America Act .

Sen. Ossoff’s will supercharge domestic solar manufacturing, create tens of thousands of good-paying jobs in Georgia and nationwide, help meet President Biden’s ambitious goal of having solar energy account for 40% of U.S. energy by 2035, and accelerate the transition to clean energy.

Sen. Ossoff introduced the bill this summer as a part of his effort to make Georgia the national leader in clean energy technology manufacturing.

“We have a generational and historic obligation to address climate change and transition from fossil fuel combustion to clean and renewable energy. Demand for solar energy is skyrocketing, and we need to be building and manufacturing this technology here in the United States, reduce our reliance on imports from China, and meet the moment,” Sen. Ossoff said.

The bill will boost manufacturing by providing tax credits for American manufacturers at every stage of the solar manufacturing supply chain, from production of polysilicon to solar cells, trackers and inverters, and fully assembled solar modules.

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Nostellaanpa taas tätäkin ketjua eli eilen tuli ilmoitus, että Q cell -nimisen yhtiön taustayrityksen Hanwha omistusosuus Recissä noussee toukokuussa kolmannekseen:

On 23 March 2022 Hanwha Corporation and Hanwha Solutions Corporation announced a new agreement to acquire the remaining 16.67 percent of the shares in REC held by AKH. Completion of this transaction is expected to occur in May 2022. Following this transaction Hanwha Corporation and Hanwha Solutions Corporation will own up to 1/3 of the shares in REC and become the largest shareholder in the company.


The Hanwha group is a leading business enterprise based in South Korea with USD 61 Bn. of revenue and USD 199 Bn. of assets. Hanwha Solutions Corporation, one of the key subsidiaries of the Hanwha group, is an PV supplier and manufacturer globally, operating the largest module production plant in the US and has also a significant presence in Europe through its Q CELLS division.

Q CELLS is a leading supplier with the highest market share in the US residential market and commercial solar market with 24 percent and 21 percent, respectively, and will continue to invest to expand the renewable business in the US.

Ja ratio:

During 2021 and 2022 market opportunities have increased significantly for REC to play a key role in restoring a domestic solar value chain in the US. This represents a potential for restarting the production of solar grade polysilicon with an ultra-low carbon footprint at the Moses Lake. Hanwha wishes to support the effort to reopen Moses Lake, to assist REC in assuming a position as a corner stone of the US solar supply chain. Hanwha’s ambition is to assist REC to reopen the Moses Lake factory from 2023. In addition, as a well-positioned supplier for silane gas, REC anticipates various investment opportunities with support from Hanwha.

Kyllähän Rec saa Hanwhasta erinomaisen pääomistajan ja nähdäkseni Moses Laken avaamista ensi vuonna voidaan pitää erittäin todennäköisenä. Aikaisemminhan Rec itse on tuota tavoitellut, mutta sitonut sen voimakkaasti siihen, mitä politiikassa tapahtuu. Toivottavasti Hanwha tuo tuohon vauhtia ja varmasti aurinkokennoille tarkoitettu polysilikoni menee juuri Q cellin tuotteiden valmistukseen.

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Reciltä Q1 tulosta. Tuloksen sijaan isona positiivisena tietona Moses Lakeen liittyvä aikataulu. Hanwha odotetusti ostamassa tuotantoa omiin tuotteisiinsa:

REC Silicon ASA (REC Silicon)
reported first quarter 2022 revenues of USD 34.6 million compared to USD 43.2
million in the fourth quarter of 2021. The Company also reported an EBITDA of
USD 3.6M compared to a loss USD 0.4 million in the prior quarter.

Today, REC Silicon is announcing plans to restart production in Moses Lake,
Washington. We expect to realize first production during the fourth quarter of
2023 and reach full capacity utilization during 2024. The restart of production
is a direct result of Hanwha’s commitment to REC Silicon. We look forward to a
close relationship with Hanwha that allows REC Silicon access to Hanwha’s
strength and experience to unlock the value of REC Silicon’s unique position
with respect to solar energy materials, battery materials opportunities, and
semiconductor markets. We are currently discussing supplying Hanwha Solutions
with polysilicon and Hanwha Corporation with silane gas. These arrangements
would allow REC Silicon the opportunity to focus on manufacturing excellence and
to enhance market solutions through product development," said James A. May II,
CEO of REC Silicon.

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