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

13 Sep 2024 17:28 CEST

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.

More information:
Access the news on Oslo Bors NewsWeb site

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