REC Silicon and Sila Sign Long-Term Silane Supply Agreement

19 Sep 2024 07:00 CEST

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.

More information:
Access the news on Oslo Bors NewsWeb site

628076_REC Silicon and Sila Sign Long-Term Silane Supply Agreement.pdf