REC Silicon Update Regarding Qualification of Ultra-High Purity Polysilicon

21 Oct 2024 07:24 CEST

Moses Lake, Washington USA -- October 21, 2024: REC Silicon ASA ("REC Silicon"
or the "Company") provides an operational update concerning the qualification
process for its first shipment of ultra-high purity polysilicon from the
recently restarted silane-based high-purity granular production facility in
Moses Lake, Washington.

As reported in the notification on September 14, 2024, REC Silicon has
provided qualification material of ultra-high purity polysilicon to a third
party for testing. The testing of the material has been delayed due to
unexpected procedures by customs of the country where the testing will be
performed, which in turn has delayed the first shipment of product to our
customer compared to the previous timeline we had communicated. The Company is
working with testing organizations, the third-party testing partner and our
customer to expedite this process in any way possible, although the timing is
still uncertain due to the customs process and the associated timing window of
the third party.

The qualification process must be completed successfully before the customer
accepts the agreed modified specification for our product and the Company is
able to make its first shipment of product. As with any qualification process
of this sort, the outcome of the testing and hence our ability to deliver
product within a certain timeframe, remains a risk.

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

About REC Silicon
------------------------------------------------------------------------------
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
2024-10-21 07:24 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

629932_REC Silicon Update Regarding Qualification of Ultra-High Purity Polysilicon.pdf