REC Silicon Update of Restart and Offtake Activities in Moses Lake

14 Jan 2023 09:10 CET

Moses Lake, Washington USA January 14, 2023. REC Silicon ASA (the "Company")
desires to provide an update on its restart activities for its FBR polysilicon
production facility located in Moses Lake, Washington.

Restart activities are progressing well and according to schedule generally
despite the ongoing challenges experienced globally from supply chain
disruptions and other impacts such as inflationary pressures.

The Company is pleased with the recent announcement that Qcells will invest
more than USD 2.5 billion to build a complete solar supply chain in the United
States. Qcells is a subsidiary company of Hanwha Solutions which controls,
together with its affiliate Hanwha Corporation, 33.3% of the shares in REC
Silicon ASA.

As previously disclosed, REC Silicon has been in negotiations with Hanwha
Solutions towards reaching an offtake agreement for all FBR polysilicon
production from the Moses Lake facility. Discussions on key commercial terms
for the FBR offtake continue and are progressing well towards completion.

REC Silicon will provide additional details on the key commercial terms as
soon as the negotiations are completed.

Contacts
------------------------------------------------------------------------------
Nils O. Kjerstad
IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@recsilicon.com

About Us
------------------------------------------------------------------------------
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 subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2023-01-14 09:10 CET.

More information:
Access the news on Oslo Bors NewsWeb site

580168_REC Silicon Update of Restart and Offtake Activities in Moses Lake.pdf