Sandvika, May 17, 2012; Renewable Energy Corporation ASA (REC), announced today that it intends to open a new applications and research center, in Shangyu, China. The STAR Center (Silicon Technologies Applications and Research Center) will be a technology development and training facility that provides localized support for REC Silicon customers. Additionally, the company will exhibit at the sixth Annual SNEC International Photovoltaic Conference in Shanghai this week, where Tore Torvund, Executive Vice President, REC Silicon, delivered a keynote presentation at the silicon materials session (see attached presentation).
"The solar polysilicon market has been very challenging this past nine months, especially in China. However, REC's NextSi(TM) granular polysilicon and FBR (Fluidized Bed Reactor) manufacturing technology ensures the company is sustainable and uniquely positioned for success in China going forward. Also, the establishment of the STAR Center is a commitment to our customers in China, and we expect to grow and play a key role in the solar and semiconductor materials industry in the years to come." Tore Torvund, Executive Vice President, REC Silicon.
The STAR Center will allow customers to evaluate silicon materials, equipment and processes that impact yield and cost in manufacturing mono and multicrystalline polysilicon ingots for the solar and semiconductor industry.
Kurt Levens, VP of Commercial Development and Planning, REC Silicon, commented, "The STAR Center will be our regional customer support and applications facility with the express purpose of teaching our customers how to use our products and teaching ourselves how customers should use our products. In doing this, we can better determine the value proposition of our material in our customers' processes." Additional benefits include defect determination / reproduction in a non-operating environment in order to trouble shoot or recreate customer complaints or problems, and optimization of customer processes utilizing our materials.
Kurt Levens continued. "REC Silicon recognizes the importance of China's solar and semiconductor industry and we want to be close to our expanding customer base in China."
The STAR Center will be wholly owned by REC; however REC has partnered with equipment manufacturer Jingsheng M&E, a leading polysilicon ingot and furnace manufacturer, based in Shangyu, China. The two companies will engage in collaborative research at the STAR Center to investigate product attributes and processes, as well as yield and packing efficiency improvements.
REC will also exhibit this week at the sixth Annual SNEC International Photovoltaic Conference in Shanghai. REC's booth is located in hall W2, booth 320. REC will feature its granular polysilicon - NextSi(TM), gas products and material services. Additionally, Tore Torvund, will present during the Conference and provide an overview of the company, a market analysis, and an overview of the current and future potential of the FBR technology. The conference will be held from May 16 - 18, 2012, at the Kerry Hotel, which is adjacent to the exhibition at the Shanghai New International Expo Center, in Pudong, Shanghai.
See attached the presentation held by Tore Torvund.
For more information, please contact:
Mikkel Tørud, VP & Investor Relations Officer,
+ 47 976 99 144, firstname.lastname@example.org
David Quane, Marketing Communications Specialist, REC Silicon,
+1 509-760-9688 email@example.com
REC is a leading vertically integrated solar energy company. REC produces polysilicon, wafers, cells and modules for the solar industry, and silicon materials for the electronics industry. REC also engages in project development in selected PV segments. Founded in Norway in 1996, REC employs around 3,200 people globally with revenues of more than NOK 13 billion in 2011. Please visit www.recgroup.com to learn more about REC.
NextSi(TM) is a trademark of REC Silicon.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)