REC Silicon ASA (RNWEF) has released an update.
REC Silicon ASA secures a $25 million short-term loan from Hanwha International LLC to support capital requirements and provide liquidity as it nears the completion of its Moses Lake facility restart and expansion. The loan will be repaid with the prepayment received after the first shipment of ultra-high purity FBR product under an existing long-term offtake agreement. With the facility’s restart, REC Silicon aims to supply the growing semiconductor industry, US solar value chain, and the battery industry with high-purity polysilicon and silane gas.
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