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REC Silicon expands in China

REC Silicon AS and REC Silicon Inc, have entered into agreements with Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. Governing a joint venture partnership that will expand operations into China.
REC Silicon AS and REC Silicon Inc, have entered into agreements with Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. Governing a joint venture partnership that will expand operations into China.

REC Silicon AS and Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. Have entered into joint venture agreements for the formation of a production joint venture and a sales joint venture. REC Silicon Inc and Shaanxi Non-FerrousTian Hong New Energy Co., Ltd. have entered into a technology transfer agreement, governing the terms under which REC Silicon Inc will transfer the exclusive, non-transferrable right to use its technology in China and Taiwan to the production joint venture.

The production joint venture will construct and operate a new plant for the production of silane gas, solar and electronic grade polysilicon, utilizing REC Silicons next generation fluidized bed reactor (FBR) technology.

The new plant will be located in Yulin, in the Shaanxi Province, and is expected to have capacity of 18,000 metric tons of granular polysilicon, an additional 1,000 metric tons of Siemens polysilicon, and 500 metric tons of silane gas loading.

Tore Torvund, CEO of REC Silicon ASA said:

”I am excited to announce this strategic alliance with an ideal partner. This joint venture is a key step in the worldwide growth of REC Silicon and will strengthen its leadership position in the industry. It demonstrates the value of our technology and allows us to expand our capacity without requiring REC Silicon to use its current assets or to raise other funds in order to make its capital
contribution.”
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