REC SILICON ASA REC Silicon ASA (REC Silicon) has signed an agreement for a USD 30 million facility loan from Standard Chartered Bank in New York for the purpose of supporting the capital needs of the company. This facility loan is part of the overall financing plan for the company's ongoing restart and expansion initiatives and is fully guaranteed by REC Silicon's largest shareholder Hanwha Solutions, contributing to favorable terms. As previously announced, the ongoing initiatives will require financing beyond this facility loan. The Company is progressing on its overall financing plan and is confident of having the necessary financing in place well in advance of the capital needs.
As a leading producer of silane gases and silicon metals, 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. The re opening of the Moses Lake operations will enable REC Silicon to provide polysilicon to an emerging US solar value chain and potentially supply silane gas for anode material to a fast-growing battery industry.
