tiprankstipranks
REC Silicon Secures Loan to Support Expansion
Company Announcements

REC Silicon Secures Loan to Support Expansion

REC Silicon ASA (RNWEF) has released an update.

Don't Miss our Black Friday Offers:

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.

For further insights into RNWEF stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks European Auto-Generated NewsdeskREC Silicon Advances in Semiconductor and Battery Sectors
TipRanks Auto-Generated NewsdeskREC Silicon Faces Financial Challenges Amid Market Uncertainties
TipRanks European Auto-Generated NewsdeskREC Silicon Reports Revenue Decline Amid Liquidity Challenges
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App