REC Silicon – Announces termination of strategic partnership with Violet Power

Written by Customer Service on . Posted in Public Companies.

Lysaker, Norway – 5 April 2021: The political environment in major markets including the United States and Europe is highly and increasingly supportive of diversification of the solar supply chain and development of localized solar manufacturing to serve domestic demand for solar energy. Buyers of solar are also increasingly focused on social and sustainability issues and high levels of embodied carbon within the incumbent solar supply chain which greatly reduce the ESG benefits of utilizing solar energy in replacement for fossil fuels. REC Silicon (REC) anticipates additional policy support for alternative supply chains and sustainably made solar materials and lower carbon solar panels, in the near term.

REC Silicon advises that the strategic partnership between REC and Violet Power (VP) announced on October 13, 2020 has been terminated. In line with the positive momentum in the political environment which creates a better opportunity for localized value chains than ever before, REC believes it yields greater positive outcomes for its shareholders to collaborate commercially with established, proven, active and relevant solar supply chain partners to optimize the market opportunity for competitive, low-carbon locally produced solar panels.

REC is also working with companies within the Ultra Low Carbon Solar Alliance, a group of established and proven solar companies on various policy and communication initiatives to realize the growing opportunities for a sustainable solar supply chain.

For further information, please contact:
Francine Sullivan, Vice President Business Development
Phone: +1 509 750 1133
Email: francine.sullivan@recsilicon.com

About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. 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 considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange release was published by Nils O. Kjerstad, IR Contact, REC Silicon ASA on 5 April at 11:00 pm CEST.

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