Discover Why REC Silicon, Top Silicon Material Producer, Has Taken a USD 6.5 Million Loan and Its Plans for Further Financing

REC Silicon, a prime manufacturer of advanced silicon materials with worldwide clientele, has entered into a short-term loan agreement with Hanwha International LLC to the tune of USD 6.5 million. The proceeds of the loan will provide for the company’s operations and allow for the settlement of expenses through July and the first week of August 2025. Notably, Hanwha International LLC, an arm of Hanwha Solutions and Hanwha Corporation, is REC Silicon’s majority shareholder.

The newly acquired loan supplements an existing USD 90 million short-term loan, amended to close on January 24, 2025, with the maturity date retained at January 24, 2026, matching that of the original loan. While all other terms continue unchanged, REC Silicon has declared an insufficiency of available cash to service its debt and meet other forthcoming operational cash flow obligations for the year without further support from major shareholder Hanwha, or new capital sources.