REC Silicon

Regulatory Filings • Sep 13, 2024

REC Silicon Update Regarding First Shipment of Ultra-High Purity Polysilicon

REC Silicon Update Regarding First Shipment of Ultra-High Purity Polysilicon

Moses Lake, Washington USA -- September 13, 2024: REC Silicon ASA ("REC

Silicon" or the "Company") provides an operational update concerning the first

shipment of ultra-high purity polysilicon from the recently restarted

silane-based high-purity granular production facility in Moses Lake,

Washington.

The Company is pleased to announce that following a series of modifications

and mitigations in our process aimed at addressing a previously announced

issue around higher than expected levels of an impurity in the product, all

impurities have now been reduced to levels that are acceptable to our

customer, and we have an agreement in principle to modify a specification

subject to a final evaluation and qualification test, as is typical in the

industry after such a modification.

The plant is running well, and the facility is now producing volumes for

commercial shipments. Even though our production volumes are being ramped to

the necessary level already, the first commercial shipment of product will

need to be delayed to mid-October, to accommodate this final qualification

step that our customer is undertaking.

Additionally, we can confirm that construction activities related to the

restart of the Moses Lake facility are complete, including Silane IV and

equipment will be started as needed during the planned ramp of capacity.

"Getting to this point and mitigating the previous impurity issue was the

result of hard work by many dedicated personnel of the Company. We will soon

be beginning a new phase for the facility where efforts are transitioning to

continuous quality improvement to exceed the market standard, ramp-up, and

optimization. There is still a large amount of work to be accomplished. We

will strive to reach our full commercial production capacity as soon as we can

while maintaining our focus on product quality. We appreciate the interactions

with our customer in getting to this stage, our discussions have always

centered around our aligned interests of our polysilicon enabling their

efforts to create a complete PV solar value chain in the USA. This is

demonstrably a positive outcome for both parties" says CEO Kurt Levens.

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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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 is subject to disclosure under the Norwegian Securities

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

2024-09-13 17:28 CEST.