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REC Silicon ASA (RNWEY)

Other OTC - Other OTC Delayed price. Currency in USD
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1.73000.0000 (0.00%)
At close: 02:50PM EDT

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  • b
    blackoutbuzz
    Well there it is. It's official. Hanwha is going to build out solar manufacturing facilities in USA. And RNWEF will be there to supply the poly silicon. The only question is when will Hanwha acquire the remaining publicly-traded shares in RNWEF, and at what price?

    @@@Hanwha Q Cells -- one of the few solar-panel makers with US production -- is considering sites for a massive new facility as the country prepares to incentivize cleantech manufacturing. The company is evaluating sites in Georgia, South Carolina and Texas, according to documents filed in Texas. The potential project in Dallas County, Texas, would feature a suite of manufacturing -- panels, ingots, wafers and cells. Korea-based Hanwha Solutions is the manufacturer’s parent company.

    https://www.bnnbloomberg.ca/solar-giant-hanwha-weighs-us-expansion-with-massive-new-facility-1.1805978
  • J
    Jakub
    Guess one time where in Moses Lake this industrial area which Sila just announced purchase of yesterday is?

    Yes sir! you are correct on this million dollar question. Sila Nano will be neighbour of REC. I wonder why??

    Maybe somebody can add 1+1 for me?? :):) @ blackoutbuzz: I hope you are loaded with shares still. I am and I might sell for 100 NOK.

    Cheers guys!

    https://www.forbes.com/sites/alanohnsman/2022/05/03/ex-tesla-engineer-building-silicon-anode-plant-as-us-amps-up-ev-battery-production/?sh=5946533a5885
    Gene Berdichevsky’s Sila is setting up its first large anode plant in Washington State to make next-generation materials that boost EV battery efficiency.
    Gene Berdichevsky’s Sila is setting up its first large anode plant in Washington State to make next-generation materials that boost EV battery efficiency.
    www.forbes.com
  • b
    blackoutbuzz
    The good folk at Moses Lake must be thrilled with this latest development. Sorry to all the REC investors. I just find all this quite entertaining. Let's see if REC can avoid being entirely swallowed by Hanwha before all the fireworks have been set off.

    @@@Battery technology startup Group14 Technologies’ recently completed 27,000-square-foot production facility in Woodinville is only the beginning, according to co-founder and CEO Rick Luebbe. “This factory outside Seattle shows that we’re not a science project,” Luebbe said. “We are a legitimate commercial player, and we’re ready to push the envelope in the electrification of everything.” Luebbe said the battery storage technology company is now looking at building a much larger production facility in Moses Lake, which he hopes can begin construction sometime before the end of 2021....Group14 Technologies has pioneered a carbon-silicon composite to replace graphite anodes that gives rechargeable lithium-ion batteries 50% more capacity. Last fall, the company announced a partnership with REC Silicon to work at REC’s Moses Lake facility and use that company’s silane — silicon gas — in its process. “We’re working with REC, and we still have an agreement and a great partnership with them,” Luebbe said. “We’re hoping to do great things with them in the future.”

    https://columbiabasinherald.com/news/2021/may/10/group14-eyes-moses-lake-facility/
    Battery technology startup Group14 Technologies’ recently completed 27,000-square-foot production facility in Woodinville is only the beginning, according to co-founder and CEO Rick Luebbe.
    Battery technology startup Group14 Technologies’ recently completed 27,000-square-foot production facility in Woodinville is only the beginning, according to co-founder and CEO Rick Luebbe.
    columbiabasinherald.com
  • b
    blackoutbuzz
    Earnings are out. REC is aiming to supply Hanwha with poly-silicon and silane? What a shocker. Don't worry folks, Hanwha will be doing that, only by then REC will no longer be a publicly-traded company.

    @@@“Today, REC Silicon is announcing plans to restart production in Moses Lake, Washington. We expect to realize first production during the fourth quarter of 2023 and reach full capacity utilization during 2024. The restart of production is a direct result of Hanwha’s commitment to REC Silicon. We look forward to a close relationship with Hanwha that allows REC Silicon access to Hanwha’s strength and experience to unlock the value of REC Silicon’s unique position with respect to solar energy materials, battery materials opportunities, and semiconductor markets. We are currently discussing supplying Hanwha Solutions with polysilicon and Hanwha Corporation with silane gas. These arrangements would allow REC Silicon the opportunity to focus on manufacturing excellence and to enhance market solutions through product development,“ said James A. May II, CEO of REC Silicon.
  • b
    blackoutbuzz
    Yahoo quote on the Norway-listed ticker is broken. REC.OL is set to test a high of 21.34NOK last reached back in May 2016. Could the stock recover to the ~50NOK level last seen in 2014? The ~200NOK level of 2011? The ~500NOK mark of 2009? The ATH of ~2100NOK hit back in 2007 seems an impossibly distant and long-faded dream. FX rate USD/NOK is ~8.50.

    https://www.reuters.com/companies/REC.OL/charts
    REC.OL - Rec Silicon ASA Charts | Reuters
    www.reuters.com
  • O
    Old
    Today's new was really encouraging for the future development of the company!
  • b
    blackoutbuzz
    So both the CEO and Chairman of the BOD are out. Hanwha is pushing the buttons now, and Aker is playing along.

    @@@The CEO of REC Silicon ASA (“REC Silicon” or the “Company”), Tore Torvund, has decided to step down from his role....As was announced by REC Silicon on 11 November 2021, Hanwha Solutions has expressed a strong desire to be represented on the board of the Company following completion of the announced investment in the Company by Hanwha Solutions. This proposal is supported by Aker Horizons. Furthermore, it was announced that the chairman of the board of directors Kjell Inge Røkke, is planning to step down, and that Aker Horizons has proposed to the nomination committee that Kristian Monsen Røkke is elected as chairman of the board.

    https://finance.yahoo.com/news/rec-silicon-asa-tore-torvund-224500113.html
    Moses Lake, WA, 30 November, 2021: The CEO of REC Silicon ASA (“REC Silicon” or the “Company”), Tore Torvund, has decided to step down from his role. Torvund is turning 70 years and his decision has been discussed and agreed with the Board of Directo
    Moses Lake, WA, 30 November, 2021: The CEO of REC Silicon ASA (“REC Silicon” or the “Company”), Tore Torvund, has decided to step down from his role. Torvund is turning 70 years and his decision has been discussed and agreed with the Board of Directo
    finance.yahoo.com
  • b
    blackoutbuzz
    Huge move on an announcement for a facility coming in 2023??

    @@@Woodinville, WA & Moses Lake, WA (October 13, 2020) – Today Group14 Technologies (Group14), a global provider of silicon-carbon composite materials for global lithium-ion (Li-ion) markets, and REC Silicon ASA (REC Silicon), the leading producer of advanced silicon materials, announced the two are partnering to develop a full-scale, co-located commercial production facility at REC Silicon’s Moses Lake plant. The facility underlines Group14 and REC Silicon’s collaboration in relation to ongoing pilot plant production and testing at REC Silicon’s FBR polysilicon and silane gas plant in Moses Lake, WA. The large-scale commercial facility will be the first and largest silicon-carbon anode material plant globally that will enable lithium-silicon batteries and accelerate the electrification of everything. The full-scale facility is expected to break ground in 2021, with the capacity to bring 12,000 tons/year of advanced silicon battery materials to the global Li-ion market by 2023.

    https://finance.yahoo.com/news/rec-silicon-group14-technologies-rec-050000000.html
  • b
    blackoutbuzz
    REC got an 8.3M USD CARES loan in Q2. Now news is out that the Norway tax office has dropped a longstanding suit for over $20M USD that REC had on the books as a contigent liability. Add in the prospects of a Biden govnerment with their shiny green new deal and a global shift to renewables and speculative frenzy in all things solar and voila. REC lives to fight another day (not night, 'cause the sun don't shine at night). WIll wonders never cease?

    @@@Oslo, Norway – October 1, 2020: REC Silicon ASA (REC Silicon) has previously disclosed notices of reassessment from the Norwegian Central Tax Office (CTO) regarding tax returns for tax years 2009 through 2011. (See note 31 to the 2019 annual report for additional information https://epub.artbox.no/recsilicon/ar2019/76/) REC Silicon received information from the Norwegian Tax Administration through legal counsel on September 30, 2020 that issues raised to deny deductions taken by REC Silicon during tax years 2009 through 2011 have been dropped. In addition, the Norwegian Tax Administration informed that after a thorough examination, also considering the elapsed time, they did not find a reason to move forward with other issues raised in the draft decision including the classification of capital inflows as equity deposits. The resulting decrease in short-term liabilities of approximately USD 26.5 million, income tax benefit of approximately USD 21.9 million, and the reversal of interest expense of approximately USD 4.6 million will be reflected in the Company's third quarter 2020 financial results, which are scheduled to be released on Thursday October 29, 2020.

    https://www.globenewswire.com/news-release/2020/10/01/2101845/0/en/REC-Silicon-Examination-by-Norwegian-Tax-Administration-Dropped.html
  • b
    blackoutbuzz
    Meanwhile RNWEF trades quietly on the OTC market here in USA. Someone appears to be catching on though. The stock hasn't been this high in years. Never would have expected a rebirth of this previous giant of the solar power industry as an EV play.
  • b
    blackoutbuzz
    So who owns a big stake in RNWEF? Apparently this investment company that is planning an IPO. Quite timely and undoubtedly meant to capture the exhuberance surrounding renewables. If the IPO takes off then so does REC I suppose. Just how high is the question. I'll happily settle for 200NOK.

    >>>January 19 (Renewables Now) - Norwegian industrial investment company Aker ASA (FRA:FKM) intends to float its renewable energy platform Aker Horizons AS in an initial public offering (IPO) on Euronext Growth in the near term. The idea is to transfer that initial listing of Aker Horizons to Oslo Børs within 12 months. The IPO is subject to inter alia market conditions and investor feedback...Aker Horizons is a platform dedicated to investing in, incubating and developing companies within the fields of renewable energy and decarbonisation technologies. The goal of the firm is to develop projects with a total capacity of 10 GW and eliminate the equivalent of 25 million tonnes of carbon dioxide (CO2) emissions per year by 2025. Also today, Aker presented an internal restructuring plan that will result in Aker Horizons indirectly holding 51% stakes in each of Aker Offshore Wind AS (AOW) and Aker Carbon Capture AS (ACC), as previously announced, and 24.70% in REC Silicon ASA.

    https://renewablesnow.com/news/update-2-aker-preps-for-ipo-of-renewables-platform-with-internal-restructuring-728333/
  • A
    AmeriWILL
    Wow did not even remember I bought this one.. Nice....
  • G
    Gino
    Okay guys. Just looking into this. How do I buy the shares? What platform are you using? Can’t find anything. Thanks for your help.

    Signed Newbie
  • E
    ESBO
    a collegue company: HPQ Nano Silicon Powders inc (“HPQ NANO”), has received a request for Spherical Nano Silicon powders to be produced by the PUREVAP™ Nano Silicon Reactor (“NSiR”) from a major automobile manufacturer which, when concluded, will represent the first order for these powders.
  • b
    blackoutbuzz
    Special meeting to elect new members of the BOD. I notice there's a couple of Asian names on the list. Hanwha in da house.

    https://ml-eu.globenewswire.com/Resource/Download/0919a214-c33e-4d38-bd64-7014b9153853
  • F
    FREE
    @ blackoutbuzz
    it would be very helpfull for me to clarify what do you believe about the prospects of the company - stock.
    Thank you in advance.
  • b
    blackoutbuzz
    REC Silicon is a veritable phoenix arising from the ashes if I ever saw one. Hilarious.
  • b
    blackoutbuzz
    Hey Hanwha, you can have my shares for 200NOK. That's a bargain considering REC once traded at 10x that. 2007 back to the future.
  • b
    blackoutbuzz
    As I predicted. Aker is divesting its remaining stake in REC to Hanwha. Bye bye Aker, hello Hanwha. Soon REC will be bought out. I want at least 50NOK per share. Even 200NOK seems fair. Cmon Hanwha, don't be a cheapskate.

    @@@Aker Horizons ASA's wholly owned subsidiary Aker Horizons Holding AS ("Aker Horizons") has today entered into an agreement with South Korea's Hanwha Solutions Corporation and Hanwha Corporation (together, "Hanwha") to sell all of Aker Horizons’ shares in REC Silicon ASA ("REC Silicon"). Aker Horizons will sell 70,104,276 shares in REC Silicon at a purchase price of NOK 20 per share, resulting in total proceeds to Aker Horizons of approximately NOK 1,402 million. Following completion of the transaction, Aker Horizons will no longer own any shares or hold any voting rights in REC Silicon.