- (PLX AI) - REC Silicon gets NOK 964 million in proceeds in a directed share issue to Hanwha Solutions at subscription price NOK 20 per share.
- • Aker Horizons also sells some existing REC Silicon shares to Hanwha
- • After these transactions, Aker Horizons and Hanwha Solutions will each own approximately 16.67% of the shares in REC Silicon
- • Hanwha Solutions is one of the world's leading solar PV manufacturers with a total cell manufacturing capacity of 10GW globally
- • The company provides high-quality solar PV panels to the residential market through their wholly owned brand Q CELLS, which holds a 25 percent market share in the US
- • Transactions are expected to strengthen REC Silicon's financial position and ensure that the Company has the necessary resources to reopen its FBR facility in Moses Lake, Washington, and enable investment opportunities in Butte, Montana
- • Hanwha Solutions' strategic investment in REC Silicon represents a step towards establishing a highly efficient, low carbon solar value chain in the US