REC Silicon

Regulatory Filings • Sep 19, 2024

REC Silicon and Sila Sign Long-Term Silane Supply Agreement

REC Silicon and Sila Sign Long-Term Silane Supply Agreement

Moses Lake, Washington USA - September 19, 2024: REC Silicon Inc, a wholly

owned subsidiary of REC Silicon ASA ("REC"), a leading innovator in

solar-grade silicon and silicon materials, and Sila Nanotechnologies Inc.

("Sila"), a next-generation battery materials company, today announced a

multi-year supply agreement for Silane Gas.

Under the terms of the agreement, REC will supply Sila with high-quality,

US-produced silane for use in the production of Sila's breakthrough anode

material, Titan SiliconTM, from its manufacturing facility in Moses Lake,

Washington.

The agreement marks a significant milestone for both companies. It represents

the first commercial agreement for REC's high-purity Signature Silane® in the

EV battery market and ensures domestic supply of a scarce and critical

component to anode materials production for Sila.

"We appreciate the opportunity to support Sila and their production of

next-generation battery materials," said Kurt Levens, CEO at REC Silicon.

"This agreement demonstrates the increasing demand for high-purity silicon

materials in the clean energy sector, and we are confident that our

collaboration will play a key role in accelerating the transition to electric

vehicles and highlight the benefits of working with an experienced, reliable

and consistent silane producer."

The agreement ensures a stable and reliable supply of silane through 2031,

supporting Sila's commitments to deliver Titan SiliconTM to auto customers

from Q4, 2025 and beyond. Sila's customer contracts with Mercedes-Benz and

Panasonic as well as three additional customers yet to be publicly disclosed

will be fulfilled through Sila's Moses Lake manufacturing facility.

"Our agreement with REC Silicon is a critical step in securing the raw

materials needed to deliver Titan SiliconTM to our auto customers for the long

haul," said Gene Berdichevsky, Co-founder and CEO at Sila. "It also marks the

importance of ensuring domestic production and supply of a critical

next-generation material to support US manufacturing leadership in clean

energy."

About Sila

Founded in 2011, Sila is a next-generation battery materials company with the

mission to power the world's transition to clean energy. Sila shipped the

world's first commercially available silicon anode for lithium-ion batteries

in 2021 and has since enabled battery performance enhancements in multiple

consumer electronics devices. Sila's Titan Silicon anode will next power

electric vehicles, including an upcoming version of the Mercedes-Benz G-Class

and will be used within Panasonic Energy's next-generation lithium-ion

batteries, which will also serve the automotive industry. Committed to

American leadership in clean energy production, Sila is scaling its technology

at its manufacturing facility in Moses Lake, Washington. Major financial

investors include 8VC, Bessemer Venture Partners, Canada Pension Plan

Investment Board, Coatue, Matrix Partners, Sutter Hill Ventures, and funds and

accounts advised by T. Rowe Price Associates, Inc.

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 global leader in silane based high purity silicon materials.

We combine 40 years of 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 is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2024-09-19 07:00 CEST.