REC Silicon ASA - Update on the strategic equity investment….
REC Silicon ASA - Update on the strategic equity investment by Hanwha Solutions and PDMR notification
(Oslo, Norway, 14 January 2022) Reference is made to the announcement on 18
November 2021 regarding the entering into an agreement between REC Silicon ASA
("REC Silicon" or the "Company"), Hanwha Solutions Corporation ("Hanwha
Solutions") and Aker Horizons ASA, through its subsidiary Aker Horizons Holding
AS ("Aker Horizons") pursuant to which REC Silicon shall issue, and Hanwha
Solutions shall subscribe for, 48,213,001 new shares (the "New Shares") in REC
Silicon at a subscription price of NOK 20 per share, totalling approximately NOK
964 million in proceeds in a directed share issue (the "Share Issue") and Aker
Horizons shall sell and Hanwha Solutions shall acquire 21,891,275 existing
shares in the Company (the "Share Purchase") at a price of NOK 20 per share
simultaneously with the Share Issue. At completion of the Share Issue and Share
Purchase (the "Transactions"), Aker Horizons and Hanwha Solutions will each own
approximately 16.67 percent of the shares in REC Silicon.
The waiting period to object to the transaction or request additional
information in connection with the requisite filings pursuant to the Hart-Scott-
Rodino Antitrust lmprovements Act of 1976 to US Federal Trade Commission and US
Department of Justice has now expired, and accordingly all conditions for
completion of the Transactions have been satisfied. The Transactions are
expected to be completed on or about 19 January 2022.
The Transactions bring together two of the leading producers in different parts
of the solar PV value chain. Hanwha Solutions is one of the world's largest
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. The company operates one of the largest solar module factories
in the US with an annual production capacity of 1.7GW, corresponding to 12,000
PV modules per day.
The 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 valuable 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 and to ensure that REC Silicon plays an integral role in these efforts.
Hanwha Solutions' knowledge, expertise, and capabilities are expected to enhance
REC Silicon's ability to take advantage of opportunities and developing markets
in the solar, semiconductor, and battery industries. A US value chain for solar
PV manufacturing will result in the creation of demand for solar grade
polysilicon, which the Company expects will result in the restart of the
manufacture of high quality, low-cost solar grade granular polysilicon in Moses
Lake, Washington.
As a result of the Share Purchase, primary insider notification pursuant to the
Market Abuse Regulation article 19 for Aker Horizons as a person closely related
to the Company's Chairman Kristian Monsen Røkke is attached.
Arctic Securities is acting as settlement agent in connection with the
Transactions.
For further information, please contact:
Douglas Moore, Chief Financial Officer
Phone: +1 509 766-9133
Email: douglas.moore@recsilicon.com
Nils O. Kjerstad IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no.
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity polysilicon and silicon gas to the solar and electronics industries
worldwide. We combine over 30 years of experience and proprietary technology
with the needs of our customers, with annual production capacity of more than
20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on
the Oslo Stock Exchange (ticker: RECSI), the Company is headquartered in
Lysaker, Norway.
For more information, go to: www.recsilicon.com
This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading
Act
https://newsweb.oslobors.no/message/551353
(Oslo, Norway, 14 January 2022) Reference is made to the announcement on 18
November 2021 regarding the entering into an agreement between REC Silicon ASA
("REC Silicon" or the "Company"), Hanwha Solutions Corporation ("Hanwha
Solutions") and Aker Horizons ASA, through its subsidiary Aker Horizons Holding
AS ("Aker Horizons") pursuant to which REC Silicon shall issue, and Hanwha
Solutions shall subscribe for, 48,213,001 new shares (the "New Shares") in REC
Silicon at a subscription price of NOK 20 per share, totalling approximately NOK
964 million in proceeds in a directed share issue (the "Share Issue") and Aker
Horizons shall sell and Hanwha Solutions shall acquire 21,891,275 existing
shares in the Company (the "Share Purchase") at a price of NOK 20 per share
simultaneously with the Share Issue. At completion of the Share Issue and Share
Purchase (the "Transactions"), Aker Horizons and Hanwha Solutions will each own
approximately 16.67 percent of the shares in REC Silicon.
The waiting period to object to the transaction or request additional
information in connection with the requisite filings pursuant to the Hart-Scott-
Rodino Antitrust lmprovements Act of 1976 to US Federal Trade Commission and US
Department of Justice has now expired, and accordingly all conditions for
completion of the Transactions have been satisfied. The Transactions are
expected to be completed on or about 19 January 2022.
The Transactions bring together two of the leading producers in different parts
of the solar PV value chain. Hanwha Solutions is one of the world's largest
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. The company operates one of the largest solar module factories
in the US with an annual production capacity of 1.7GW, corresponding to 12,000
PV modules per day.
The 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 valuable 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 and to ensure that REC Silicon plays an integral role in these efforts.
Hanwha Solutions' knowledge, expertise, and capabilities are expected to enhance
REC Silicon's ability to take advantage of opportunities and developing markets
in the solar, semiconductor, and battery industries. A US value chain for solar
PV manufacturing will result in the creation of demand for solar grade
polysilicon, which the Company expects will result in the restart of the
manufacture of high quality, low-cost solar grade granular polysilicon in Moses
Lake, Washington.
As a result of the Share Purchase, primary insider notification pursuant to the
Market Abuse Regulation article 19 for Aker Horizons as a person closely related
to the Company's Chairman Kristian Monsen Røkke is attached.
Arctic Securities is acting as settlement agent in connection with the
Transactions.
For further information, please contact:
Douglas Moore, Chief Financial Officer
Phone: +1 509 766-9133
Email: douglas.moore@recsilicon.com
Nils O. Kjerstad IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no.
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering
high-purity polysilicon and silicon gas to the solar and electronics industries
worldwide. We combine over 30 years of experience and proprietary technology
with the needs of our customers, with annual production capacity of more than
20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on
the Oslo Stock Exchange (ticker: RECSI), the Company is headquartered in
Lysaker, Norway.
For more information, go to: www.recsilicon.com
This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading
Act
https://newsweb.oslobors.no/message/551353
Bra at dette er ute av verden....
Man ser at CFO heter Douglas Moore, og han er ikke "acting" slik det ser ut. Kan det bety at James May blir CEO?
Man ser at CFO heter Douglas Moore, og han er ikke "acting" slik det ser ut. Kan det bety at James May blir CEO?
Sa2ri
19.01.2022 kl 11:09
6603
Jeg håper ikke det. Ikke alltid de bruker Acting på midlertidige stillnger "over there". Ser bedre ut uten.........
Sa2ri
19.01.2022 kl 13:05
6390
Aker Horizons Completes REC Silicon Transaction with Hanwha Solutions
With reference to the stock exchange notice on 18 November 2021, Aker Horizons
confirms that the transaction with Hanwha Solutions has been finalized. Aker
Horizons has sold approximately 21.9 million shares in REC Silicon ASA to Hanwha
Solutions for NOK 20 per share and has thus received approximately NOK 438
million. In addition, Hanwha Solutions acquired approximately 48.2 million new
shares in REC Silicon through a private placement, providing approximately NOK
964 million in proceeds to REC Silicon. Following the transaction, Hanwha
Solutions and Aker Horizons both own approximately 16.67 percent in REC Silicon.
The transaction brings together two of the leading producers in different parts
of the solar PV value chain and strengthens REC Silicon's financial position.
For further information, please contact:
Ivar Simensen, Communications, Tel: +47 46 40 23 17,
ivar.simensen@akerhorizons.com
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,
christian.yggeseth@akerhorizons.com
About Aker Horizons
Aker Horizons ASA is a planet-positive company dedicated to developing companies
within renewable energy and other technologies that reduce emissions or promote
sustainable living. The company is listed on the Oslo Stock Exchange and
majority owned by Aker ASA. Aker Horizons owns stakes in Aker Carbon Capture,
Aker Clean Hydrogen, Aker Offshore Wind and Mainstream Renewable Power.
https://newsweb.oslobors.no/message/551597
*************************************************************************************************
AKH: FULLFØRER REC-TRANSAKSJON MED HANWHA SOLUTIONS
Oslo (Infront TDN Direkt): Aker Horizons bekrefter at transaksjonen med Hanwha Solutions er fullført.
Det fremgår av en melding onsdag.
Aker Horizons har solgt cirka 21,9 millioner aksjer i REC Silicon til Hanwha Solutions for 20 kroner per aksje og har dermed mottatt om lag 438 millioner kroner.
I tillegg kjøpte Hanwha Solutions cirka 48,2 millioner nye aksjer i REC Silicon gjennom en rettet emisjon. Etter transaksjonen, eier Hanwha Solutions og Aker Horizons begge cirka 16,67 prosent i REC Silicon, opplyses det i meldingen.
Junaid Razak finans@tdn.no
Infront TDN Direkt, +47 22 00 11 55
With reference to the stock exchange notice on 18 November 2021, Aker Horizons
confirms that the transaction with Hanwha Solutions has been finalized. Aker
Horizons has sold approximately 21.9 million shares in REC Silicon ASA to Hanwha
Solutions for NOK 20 per share and has thus received approximately NOK 438
million. In addition, Hanwha Solutions acquired approximately 48.2 million new
shares in REC Silicon through a private placement, providing approximately NOK
964 million in proceeds to REC Silicon. Following the transaction, Hanwha
Solutions and Aker Horizons both own approximately 16.67 percent in REC Silicon.
The transaction brings together two of the leading producers in different parts
of the solar PV value chain and strengthens REC Silicon's financial position.
For further information, please contact:
Ivar Simensen, Communications, Tel: +47 46 40 23 17,
ivar.simensen@akerhorizons.com
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,
christian.yggeseth@akerhorizons.com
About Aker Horizons
Aker Horizons ASA is a planet-positive company dedicated to developing companies
within renewable energy and other technologies that reduce emissions or promote
sustainable living. The company is listed on the Oslo Stock Exchange and
majority owned by Aker ASA. Aker Horizons owns stakes in Aker Carbon Capture,
Aker Clean Hydrogen, Aker Offshore Wind and Mainstream Renewable Power.
https://newsweb.oslobors.no/message/551597
*************************************************************************************************
AKH: FULLFØRER REC-TRANSAKSJON MED HANWHA SOLUTIONS
Oslo (Infront TDN Direkt): Aker Horizons bekrefter at transaksjonen med Hanwha Solutions er fullført.
Det fremgår av en melding onsdag.
Aker Horizons har solgt cirka 21,9 millioner aksjer i REC Silicon til Hanwha Solutions for 20 kroner per aksje og har dermed mottatt om lag 438 millioner kroner.
I tillegg kjøpte Hanwha Solutions cirka 48,2 millioner nye aksjer i REC Silicon gjennom en rettet emisjon. Etter transaksjonen, eier Hanwha Solutions og Aker Horizons begge cirka 16,67 prosent i REC Silicon, opplyses det i meldingen.
Junaid Razak finans@tdn.no
Infront TDN Direkt, +47 22 00 11 55
Redigert 19.01.2022 kl 13:06
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Sa2ri
19.01.2022 kl 13:09
6434
Da er det nok ikke lenge før denne transaksjonen blir synlig også i RECSI - regner med at den dukker opp senere i dag, sammen med melding om eierskapet til HS som nå er over 10%.
Redigert 19.01.2022 kl 13:09
Du må logge inn for å svare
Sa2ri
19.01.2022 kl 13:11
6417
Nå også som en sak på FA:
"Aker Horizons har solgt aksjer for 438 mill.
Aker Horizons har solgt rundt 21,9 millioner aksjer i REC til Hanwha Solutions for 438 millioner kroner.
Aker Horizons bekrefter at transaksjonen med Hanwha Solutions er fullført, ifølge en melding onsdag.
Aker Horizons har solgt cirka 21,9 millioner aksjer i REC Silicon til Hanwha Solutions for 20 kroner pr. aksje og har dermed mottatt om lag 438 millioner kroner.
I tillegg kjøpte Hanwha Solutions cirka 48,2 millioner nye aksjer i REC Silicon gjennom en rettet emisjon. Etter transaksjonen, eier Hanwha Solutions og Aker Horizons begge cirka 16,67 prosent i REC Silicon, opplyses det i meldingen."
https://finansavisen.no/nyheter/energi/2022/01/19/7804850/aker-horizons-har-fullfort-transaksjonen-med-hanwha-solutions?internal_source=sistenytt
"Aker Horizons har solgt aksjer for 438 mill.
Aker Horizons har solgt rundt 21,9 millioner aksjer i REC til Hanwha Solutions for 438 millioner kroner.
Aker Horizons bekrefter at transaksjonen med Hanwha Solutions er fullført, ifølge en melding onsdag.
Aker Horizons har solgt cirka 21,9 millioner aksjer i REC Silicon til Hanwha Solutions for 20 kroner pr. aksje og har dermed mottatt om lag 438 millioner kroner.
I tillegg kjøpte Hanwha Solutions cirka 48,2 millioner nye aksjer i REC Silicon gjennom en rettet emisjon. Etter transaksjonen, eier Hanwha Solutions og Aker Horizons begge cirka 16,67 prosent i REC Silicon, opplyses det i meldingen."
https://finansavisen.no/nyheter/energi/2022/01/19/7804850/aker-horizons-har-fullfort-transaksjonen-med-hanwha-solutions?internal_source=sistenytt
Redigert 19.01.2022 kl 13:16
Du må logge inn for å svare
Onmyway
19.01.2022 kl 13:17
6342
Hehe, de har ikke med hvor mye REC har steget - kun hvor mye AKH har sunket 😂
Penger i kassen til AKH som er fokus her, samt kursutvklingen. At Rec får det de doble i sin kasse er visst ikke så viktig.
Nsxnsx
19.01.2022 kl 13:29
6183
Ja de fornekter seg ikke.......at ikke KIR kjøper FA og legger den ned ?? :)
FA har Recofobi. Dessuten er det jo litt utfordrende og vanskelig med et selskap 'over there' som driver med noe silikon-greier.
VanDiemen7
19.01.2022 kl 13:43
6022
Anbefaler alle å se videoen der Hegnar omtaler nedgangen i går for alle Akers grønne selskaper. Herregud som han godtet seg. Like før han reiste seg opp og danset på bordet.
manman01
19.01.2022 kl 13:47
5987
FA har noget af det mest ynkelige “journalistik” jeg nogensinde har læst.
Men tak for deling uanset, Sa2ri. Godt arbejde med at holde denne tråd opdateret.
Men tak for deling uanset, Sa2ri. Godt arbejde med at holde denne tråd opdateret.
Redigert 19.01.2022 kl 13:49
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Nsxnsx
19.01.2022 kl 13:58
5907
Er litt godt å sitte på den største posten man har hatt noen sinne på dager som denne :) :) Endelig sier jeg bare...har vært mange mørke dager i det siste hvor man har begynt å la tvilen få litt tak, men nå er det snudd...og bedre blir det nok når bekreftende nyheter kommer.
DjTao
19.01.2022 kl 14:01
5927
Enig Nsxnsx.
Rimelig fornøyd med at jeg ble drittlei nedgangen i går og kjøpte ytterligere 5K
Rimelig fornøyd med at jeg ble drittlei nedgangen i går og kjøpte ytterligere 5K
omac
19.01.2022 kl 14:14
5789
Kan jeg helle kaldt vann i blodet og påpeke at REC har fallt lenge og mye etter solide nyheter før, jeg ville vært avventende optimistisk
Nsxnsx
19.01.2022 kl 14:17
5834
Joda....vi er nok ikke helt "home free" enda....men 1 krone opp er mye bedre enn 1 krone ned :)
Ikke like mye dansing på statsfinansierte hurtigruten "hans"
Noen som kan gi info på antall småaksjonærr og verdien av våre samlede aksjer? Er det bare peanøtter blan oss på disse Rec trådene?
Les litt her:
https://www.recsilicon.com/investors/the-rec-silicon-share/share-information
"The number of shareholders in REC Silicon is approximately 29 000"
Og her:
https://www.recsilicon.com/investors/the-rec-silicon-share/shareholders
kan du lese om hvor mange aksjer "Topp 20" har.
Se også denne supre oversikten, som har vært linket til tidligere her på forumet:
https://docs.google.com/spreadsheets/d/1tqgQZ-53x0FeWX156i1MQjQAiUKyVb8e39toaMT7Bjg/edit#gid=1776583229
https://www.recsilicon.com/investors/the-rec-silicon-share/share-information
"The number of shareholders in REC Silicon is approximately 29 000"
Og her:
https://www.recsilicon.com/investors/the-rec-silicon-share/shareholders
kan du lese om hvor mange aksjer "Topp 20" har.
Se også denne supre oversikten, som har vært linket til tidligere her på forumet:
https://docs.google.com/spreadsheets/d/1tqgQZ-53x0FeWX156i1MQjQAiUKyVb8e39toaMT7Bjg/edit#gid=1776583229
Redigert 19.01.2022 kl 15:49
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Sa2ri
21.01.2022 kl 09:27
4950
I følge en fersk aksjonærliste er aksjene til HS nå plassert på en konto hos Citibank. Her er en oversikt over de tre største aksjonærne og med de endringene som er gjort med effekt 21.01.2022:
1 AKER HORIZONS HOLDING AS 16,67 91 995 551 −21 891 275 70 104 276
NEW 2 CITIBANK, N.A. 16,67 - - 70 104 276
3 MORGAN STANLEY & CO. LLC 3,38 14 058 325 151 593 14 209 918
1 AKER HORIZONS HOLDING AS 16,67 91 995 551 −21 891 275 70 104 276
NEW 2 CITIBANK, N.A. 16,67 - - 70 104 276
3 MORGAN STANLEY & CO. LLC 3,38 14 058 325 151 593 14 209 918
Takker takker
Stabukk
23.01.2022 kl 09:56
8781
Tar fram igjen denne tråden, starta av Sa2ri, etter stor frustrasjon over «intet nytt» og «null informasjon» frå Rec bl.a. på uke-tråden. Tråden startar med meldinga «Update on the strategic equity investment by Hanwha Solutions and PDMR notification». Er redd mange ikkje har fått med seg denne meldinga, som er veldig betryggande for min posisjon. LES MELDINGA, og bruk gjerne Google Translate!
Føler vi er svært nære å få nyheter nå . Tipper vi er over 30kr ila av noen uker .. bare en følelse ..
Stabukk
25.01.2022 kl 08:51
8231
Håpar ny styreformann/styre og kommande ny GEO tar ein prat om selskapet sin info-strategi. Som vi huskar kunne norske media alltid ta kontakt med tidlegare styreleiar Ulltveit Moe når «dei ville ha ei overskrift». Men han gjorde ofte meir skade enn nytte ved å kritisera myndigheiter og alle andre for Rec sin vanskelige situasjon. No er selskapet i ein langt bedre posisjon, som gir styreformann og GEO grunn til å vera meir offensive. Og dei og Rec kan gjerne kan komma med andre innspel enn det som er børspliktige. Etter mi meining.
Følelse av å være nyheter er kanskje basert på noe?
- Avgjørelse om åpning skulle være meldt Q4, men vi venter fortsatt.
- Bygget i Wheeler-road er pending / ukjent kjøper
- Det presses på for grønne subsidier og BBB i en variant
- Group 14 og Sila Nano meldte også at de skulle melde hvor fabrikken skulle ligge i løpet av 2021 - de avventer også.
Det skjer mye i kullissene - og RECsi omsettes til en verdi av 25% av byggekost til ML i 2022.
God handel!
- Avgjørelse om åpning skulle være meldt Q4, men vi venter fortsatt.
- Bygget i Wheeler-road er pending / ukjent kjøper
- Det presses på for grønne subsidier og BBB i en variant
- Group 14 og Sila Nano meldte også at de skulle melde hvor fabrikken skulle ligge i løpet av 2021 - de avventer også.
Det skjer mye i kullissene - og RECsi omsettes til en verdi av 25% av byggekost til ML i 2022.
God handel!
Sa2ri
27.01.2022 kl 11:00
7581
Det skjer ting i Washington State, og en faktor som kan utløse åpningen av ML skal diskuteres i dag:
"Possible return: Warnick bill aims to help REC start up again
OLYMPIA — Legislation proposed by Sen. Judy Warnick, R-Moses Lake, and currently being considered by the Washington State Senate Committee on Business, Financial Services and Trade, could make it possible for REC Silicon’s Moses Lake plant to resume production.
Senate Bill 5849 would extend a targeted 43% business and occupation tax cut for manufacturers of solar panels and components another five years past the original expiration date of 2027 to 2032. The bill is scheduled to be in executive session with the Senate Committee on Business, Financial Services and Trade today.
In addition, the bill would allow for the construction or improvement of existing industrial buildings.
Warnick said the legislation is tied to a potential investment in the works in Moses Lake that would allow REC Silicon, which halted production in 2019 following a lengthy trade dispute with China that blocked access to that country’s solar panel market, to restart polysilicon production.
“They want this company to come in and they want to get REC up and running,” Warnick said. “And they are real serious.”
Chuck Sutton, vice president of fluid bed reactor sales for REC, testified at a committee hearing on Tuesday and said the bill is “a great bill” with bipartisan support that is part of the company’s strategy to get back in operation.
“It’s one of the projects that we are working on,” Sutton told the Columbia Basin Herald. “There are different things that we’ve got to get in place to be ready to restart, and this is part of that.”
Fluid bed reactor is the patented technology REC uses to produce solar-grade polysilicon in a continuous, rather than a batch, process. This makes REC one of the most efficient producers of solar-grade silicon in the world, and REC’s product is some of the least expensive silicon available for solar panels.
Neither Sutton nor Warnick would give any details about the potential investment, though Warnick noted her legislation would help the company “with that decision.”
“It extends the tax break five extra years, and the company is assured it will get the tax break if it locates here,” she said.
Charles H. Featherstone can be reached at cfeatherstone@columbiabasinherald.com."
https://columbiabasinherald.com/news/2022/jan/27/possible-return-warnick-bill-aims-help-rec-start-a/
"Possible return: Warnick bill aims to help REC start up again
OLYMPIA — Legislation proposed by Sen. Judy Warnick, R-Moses Lake, and currently being considered by the Washington State Senate Committee on Business, Financial Services and Trade, could make it possible for REC Silicon’s Moses Lake plant to resume production.
Senate Bill 5849 would extend a targeted 43% business and occupation tax cut for manufacturers of solar panels and components another five years past the original expiration date of 2027 to 2032. The bill is scheduled to be in executive session with the Senate Committee on Business, Financial Services and Trade today.
In addition, the bill would allow for the construction or improvement of existing industrial buildings.
Warnick said the legislation is tied to a potential investment in the works in Moses Lake that would allow REC Silicon, which halted production in 2019 following a lengthy trade dispute with China that blocked access to that country’s solar panel market, to restart polysilicon production.
“They want this company to come in and they want to get REC up and running,” Warnick said. “And they are real serious.”
Chuck Sutton, vice president of fluid bed reactor sales for REC, testified at a committee hearing on Tuesday and said the bill is “a great bill” with bipartisan support that is part of the company’s strategy to get back in operation.
“It’s one of the projects that we are working on,” Sutton told the Columbia Basin Herald. “There are different things that we’ve got to get in place to be ready to restart, and this is part of that.”
Fluid bed reactor is the patented technology REC uses to produce solar-grade polysilicon in a continuous, rather than a batch, process. This makes REC one of the most efficient producers of solar-grade silicon in the world, and REC’s product is some of the least expensive silicon available for solar panels.
Neither Sutton nor Warnick would give any details about the potential investment, though Warnick noted her legislation would help the company “with that decision.”
“It extends the tax break five extra years, and the company is assured it will get the tax break if it locates here,” she said.
Charles H. Featherstone can be reached at cfeatherstone@columbiabasinherald.com."
https://columbiabasinherald.com/news/2022/jan/27/possible-return-warnick-bill-aims-help-rec-start-a/
Sa2ri
27.01.2022 kl 11:03
7558
I tillegg nevnes at PAS har kommet ut med en opdatering og nytt kursmål på RECSI i dag. De hever kursmålet til 30 (24) og gjentar kjøp, og skriver følgende:
"Outlook improved with Hanwha entry
We raise our TP for RECSI to NOK 30 (24) following the strategic investment
by Hanwha. The investment highlights the desire to build a non-Chinese low
carbon PV value chain and de-risks a Moses Lake re-opening. Accordingly,
we lower our discount rate and eye further upside once the plant is open.
Buy reiterated
Q4 reporting to highlight new partner and political landscape
We expect RECSI to report an EBITDA of USD -2m, with higher electricity prices
pressuring margins from Butte. However, we argue that the most noteworthy with
the event, 18 Feb, will revolve around the new strategic partner and political
developments surrounding the solar value chain in the US.
Hanwha Solutions’ strategic investment de-risks ML reopening
In November, Hanwha Solutions subscribed for 48.2m new shares in RECSI and
acquired 21.9m shares from AKH – both now holding 16.7% of the shares. Hanwha
and REC Silicon have history with the new industrial owner having been a
customer in the past, further, its Q CELLS solar panels are well established in the
US market. In our view, the investment from Hanwha represents a step towards
seriously building a non-Chinese PV value chain. Hanwha operates 10 GW of cell
manufacturing capacity globally and holds 1.7 GW module capacity in the US.
Assuming a 3-3.5g/w efficiency, its cell capacity represents a demand for
polysilicon ~1.7-2x RECSI’s production capacity at Moses Lake. We strongly
believe in a Moses Lake reopening (but push the opening to Q2’23 vs Q1’23
previously) and keep our positive view on the long-term potential. The political
environment is still blurry, but seems to be pushing for more US manufactured
solar. A combination of providing silane gas to the battery industry and polysilicon
to the PV industry is still our main thesis, and we believe such a mix is beneficial
for both long-term utilization and for optimizing profit generation.
TP up to NOK 30 (24) – Buy reiterated
We find the strategic investment by Hanwha as a de-risker for the re-opening of
Moses Lake, while the new cash (NOK 964m) also gives room for additional
“upgrades” (particularly in Butte) beyond capital required for a re-opening of ML.
Further, having two strong industrial partners is something we view as a positive.
We reduce our WACC to ~8% (from 10%) and lift our TP to NOK 30 (24). Buy.
Analyst;
Gard Aarvik
Kari Eide Hartvedt"
"Outlook improved with Hanwha entry
We raise our TP for RECSI to NOK 30 (24) following the strategic investment
by Hanwha. The investment highlights the desire to build a non-Chinese low
carbon PV value chain and de-risks a Moses Lake re-opening. Accordingly,
we lower our discount rate and eye further upside once the plant is open.
Buy reiterated
Q4 reporting to highlight new partner and political landscape
We expect RECSI to report an EBITDA of USD -2m, with higher electricity prices
pressuring margins from Butte. However, we argue that the most noteworthy with
the event, 18 Feb, will revolve around the new strategic partner and political
developments surrounding the solar value chain in the US.
Hanwha Solutions’ strategic investment de-risks ML reopening
In November, Hanwha Solutions subscribed for 48.2m new shares in RECSI and
acquired 21.9m shares from AKH – both now holding 16.7% of the shares. Hanwha
and REC Silicon have history with the new industrial owner having been a
customer in the past, further, its Q CELLS solar panels are well established in the
US market. In our view, the investment from Hanwha represents a step towards
seriously building a non-Chinese PV value chain. Hanwha operates 10 GW of cell
manufacturing capacity globally and holds 1.7 GW module capacity in the US.
Assuming a 3-3.5g/w efficiency, its cell capacity represents a demand for
polysilicon ~1.7-2x RECSI’s production capacity at Moses Lake. We strongly
believe in a Moses Lake reopening (but push the opening to Q2’23 vs Q1’23
previously) and keep our positive view on the long-term potential. The political
environment is still blurry, but seems to be pushing for more US manufactured
solar. A combination of providing silane gas to the battery industry and polysilicon
to the PV industry is still our main thesis, and we believe such a mix is beneficial
for both long-term utilization and for optimizing profit generation.
TP up to NOK 30 (24) – Buy reiterated
We find the strategic investment by Hanwha as a de-risker for the re-opening of
Moses Lake, while the new cash (NOK 964m) also gives room for additional
“upgrades” (particularly in Butte) beyond capital required for a re-opening of ML.
Further, having two strong industrial partners is something we view as a positive.
We reduce our WACC to ~8% (from 10%) and lift our TP to NOK 30 (24). Buy.
Analyst;
Gard Aarvik
Kari Eide Hartvedt"
Kanskje verdt å følge med her i dag live :)
https://leg.wa.gov/Senate/Committees/BFST/Pages/default.aspx?eventID=2022011519
https://leg.wa.gov/Senate/Committees/BFST/Pages/default.aspx?eventID=2022011519
Bullfight
27.01.2022 kl 11:28
7240
Possible return: Warnick bill aims to help REC start up again Source.: https://columbiabasinherald.com/news/2022/jan/27/possible-return-warnick-bill-aims-help-rec-start-a/
Skalleknarp
27.01.2022 kl 11:45
7105
Ref det grønne skiftet - liker det som står mht. fremstillingsmåten og energiforbruk samt pris for produktet til RESCI. Begge er på lavest noivå sammenlignet med andre produsenter og det er nok 2 meget viktige momenter å ta med seg videre. Fra artikkelen:
"Fluid bed reactor is the patented technology REC uses to produce solar-grade polysilicon in a continuous, rather than a batch, process. This makes REC one of the most efficient producers of solar-grade silicon in the world, and REC’s product is some of the least expensive silicon available for solar panels."
"Fluid bed reactor is the patented technology REC uses to produce solar-grade polysilicon in a continuous, rather than a batch, process. This makes REC one of the most efficient producers of solar-grade silicon in the world, and REC’s product is some of the least expensive silicon available for solar panels."
Sa2ri
27.01.2022 kl 12:09
7106
Takk for link til live broadcast. Det blir sikkert en eller to RECSI-aksjonærer som følger denne sendingen, og kanskje en analytiker eller to også.
Takk til alle for særdeles god info i dag. Ikke ofte man får positive meldinger fra absolutt alle kanter :) Liker best at lokalpressen er på ballen :)
Stabukk
27.01.2022 kl 15:52
6493
Takk igjen Sa2ri og andre for oppdatering frå Pareto og nyhet frå columbiabasinherald.com. Meldingane føyer seg i ei lang rekke positive «signal» for Rec, blant anna politisk og stadig fleire drypp om bruk av silisium i batteri-anodar.
Som partner for Rec i emisjonar vil enkelte kanskje vurdera Pareto som litt inhabil når det gjeld analysen og kursmålet på 30. Ut frå det eg har følgd med på Hanwha og Rec sine meldingar, opplever eg kursmålet som realistisk innan 8-12 mnd.
Det vi burde få til, er auka mediafokus på Butte og oppgraderinga der. Det som skjer i Butte kjem litt i skyggen av ML. Rec burde difor børsmelda ei pressemelding med foto om investeringane som skjer der, eventuelt informera via Youtube. Og seinare gjera det samme når oppstarten av ML er i god gjenge. Prøver å ta det opp med IR-kontakt. Vi bør og prøva å påverka DnB Markets til å ta opp dekning av Rec.
Som partner for Rec i emisjonar vil enkelte kanskje vurdera Pareto som litt inhabil når det gjeld analysen og kursmålet på 30. Ut frå det eg har følgd med på Hanwha og Rec sine meldingar, opplever eg kursmålet som realistisk innan 8-12 mnd.
Det vi burde få til, er auka mediafokus på Butte og oppgraderinga der. Det som skjer i Butte kjem litt i skyggen av ML. Rec burde difor børsmelda ei pressemelding med foto om investeringane som skjer der, eventuelt informera via Youtube. Og seinare gjera det samme når oppstarten av ML er i god gjenge. Prøver å ta det opp med IR-kontakt. Vi bør og prøva å påverka DnB Markets til å ta opp dekning av Rec.
Sa2ri
27.01.2022 kl 17:49
6245
"Som partner for Rec i emisjonar vil enkelte kanskje vurdera Pareto som litt inhabil......"
Dette er bare tull og et dårlig forsøk på å flytte fokus fra det som skjer nå. PAS sin analyse har følgende heading, som er det vesentlige i dag:
"We raise our TP for RECSI to NOK 30 (24) following the strategic investment by Hanwha. The investment highlights the desire to build a non-Chinese low carbon PV value chain and de-risks a Moses Lake re-opening. Accordingly, we lower our discount rate and eye further upside once the plant is open. Buy reiterated."
PAS har, i likhet med mange andre meglerhus, gjort emisjoner for RECSI. Betyr det at alle disse er "inhabile" og/eller "partiske"? Nei, hvordan meglerhus skal forholde seg og hvilke cut-off perioder de har dersom de er tilretteleggere for en emisjon i et gitt selskap, er ganske godt regulert nettopp fordi det ikke skal være tvil (slik du indirekte påstår det er). Fra meldingen RECSI kom med i november kan man blant annet lese følgende:
"Arctic Securities acted as financial advisor for REC Silicon in the private placement". Det var altså ikke PAS som var tilrettelegger for den siste emisjonen. ARC og PAS var tilrettelegger for emisjonen i oktober 2019, og det er svært lenge siden - følgelig har dette null å si i forhold til dagens analyse.
Faktum er at RECSI har ca. 2 mdrNOK på bok som de kan bruke til oppstart av ML, oppgradering av Butte pluss litt til, og alt dette er i ferd med å spilles ut "as we speak".
Dette er bare tull og et dårlig forsøk på å flytte fokus fra det som skjer nå. PAS sin analyse har følgende heading, som er det vesentlige i dag:
"We raise our TP for RECSI to NOK 30 (24) following the strategic investment by Hanwha. The investment highlights the desire to build a non-Chinese low carbon PV value chain and de-risks a Moses Lake re-opening. Accordingly, we lower our discount rate and eye further upside once the plant is open. Buy reiterated."
PAS har, i likhet med mange andre meglerhus, gjort emisjoner for RECSI. Betyr det at alle disse er "inhabile" og/eller "partiske"? Nei, hvordan meglerhus skal forholde seg og hvilke cut-off perioder de har dersom de er tilretteleggere for en emisjon i et gitt selskap, er ganske godt regulert nettopp fordi det ikke skal være tvil (slik du indirekte påstår det er). Fra meldingen RECSI kom med i november kan man blant annet lese følgende:
"Arctic Securities acted as financial advisor for REC Silicon in the private placement". Det var altså ikke PAS som var tilrettelegger for den siste emisjonen. ARC og PAS var tilrettelegger for emisjonen i oktober 2019, og det er svært lenge siden - følgelig har dette null å si i forhold til dagens analyse.
Faktum er at RECSI har ca. 2 mdrNOK på bok som de kan bruke til oppstart av ML, oppgradering av Butte pluss litt til, og alt dette er i ferd med å spilles ut "as we speak".
Sa2ri
27.01.2022 kl 17:58
6212
De som er interessert kan jo sjekke hva som ble sagt 25. januar. Det finner dere her (fra 14:00 minutter og utover): https://tvw.org/video/senate-business-financial-services-trade-committee-2022011510/?eventID=2022011510
Nsxnsx
27.01.2022 kl 18:13
6154
Men at de ventet med analysen og påfølgende økning av kursmål til "noen" hadde fått kjøpt seg ferdig er det nok ikke så mye tvil om :)
Noen kallet meg sinnsyk hausser når jeg noen dager siden skrev at vi ser 30 kr ila noen uker …
Well , here you have it .. pareto spår dobling :
https://finansavisen.no/nyheter/industri/2022/01/27/7809030/pareto-securities-du-kan-doble-pengene-ved-a-satse-pa-rec?internal_source=sistenytt
Well , here you have it .. pareto spår dobling :
https://finansavisen.no/nyheter/industri/2022/01/27/7809030/pareto-securities-du-kan-doble-pengene-ved-a-satse-pa-rec?internal_source=sistenytt
Hanwha ? G14? Sila Nanotech ?
Spennende dette !
Spennende dette !
Intravenøsiu
27.01.2022 kl 19:57
5588
Noen som har stamina til å sjekke hele? jeg klarte 2 minutter
https://leg.wa.gov/Senate/Committees/BFST/Pages/default.aspx?eventID=2022011519
https://leg.wa.gov/Senate/Committees/BFST/Pages/default.aspx?eventID=2022011519
Sa2ri
27.01.2022 kl 20:27
5392
Svaret kommer helt på slutten av sessionen - forslaget (Bill 5849) ble vedtatt med 5 stemmer, to stemte ikke nei, men W/o Rec som vel er nøytralt. Det betyr at det kan bli fart i denne i morgen og de kommende dagene når resultatet blir kjent og man forstår hva dette egentlig betyr for RECSI og deres samarbeidspartnere.
BBB er ikke like nødvendig nå for selskapet da lokale myndigheter har tatt grep for å sikre at RECSI kan åpne ML som en del av samarbeidet de er i ferd med å etablere med HS, G14 og andre. Hvor lang tid tar det før det kommer en melding fra RECSI eller HS om dette? Ikke alt for lang tid tror jeg.
BBB er ikke like nødvendig nå for selskapet da lokale myndigheter har tatt grep for å sikre at RECSI kan åpne ML som en del av samarbeidet de er i ferd med å etablere med HS, G14 og andre. Hvor lang tid tar det før det kommer en melding fra RECSI eller HS om dette? Ikke alt for lang tid tror jeg.
Redigert 27.01.2022 kl 20:35
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Se fra 44:25 for avstemningen ;) så vidt jeg fikk med meg var det ikke noe diskusjon om innoldet i den.
Redigert 27.01.2022 kl 20:36
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Stonks_
27.01.2022 kl 20:36
5349
det er et nytt møte idag for den kommiten som 5849 ble sendt videre til https://leg.wa.gov/Senate/Committees/WM/Pages/default.aspx?eventID=2022011515
Sa2ri skrev Innholdet ble diskutert 25.01.
Riktig, og ingen endringer eller amendments be gjort nå var det jeg prøvde å si :)