Alberta — Canadian Premium Sand announced it signed a memorandum of understanding (MOU) with Heliene concerning discussions with respect to a definitive commercial offtake agreement for patterned solar glass from the Company’s glass manufacturing facility being developed in Selkirk, Manitoba.
Heliene, which has experienced significant growth since starting its U.S. operations in Minnesota in 2017, is establishing a domestic, low-carbon solar supply chain to support its growth strategy in North America
The local supply of CPS glass will enable Heliene to meet accelerating solar demand while ensuring certainty and quality thanks to the supply of regional components of its bill of materials.
“Following several months of progressive discussions and a visit to Heliene’s Mountain Iron facilities earlier this year, we are delighted to now enter into an MOU with Heliene regarding long-term supply of our low-carbon, patterned solar glass,” said Glenn Leroux, President & CEO at Canadian Premium Sand. “Heliene’s anticipated glass demand in 2024 reflects over 40% of our production capability for Phase 1 of our facility. We look forward to working with Heliene as a strategic partner and supporting their future growth plans.”
Martin Pochtaruk, President of Heliene, comments, “Amid exploding solar demand and trade volatility, our customers seek peace of mind that they are receiving the highest quality, competitively priced solar modules exactly when and where they need them. Having CPS supply us with a low-carbon glass, free of any geopolitical pressures is an enormous leap forward in the right direction.”
The MOU with Heliene compliments the July 21st, 2022, announcement that CPS executed a MOU with respect to a definitive commercial offtake agreement with Hanwha Solutions Corporation.
Anticipated glass demand from both parties would represent more than 120% of Canadian Premium Sand’s facility production capability for Phase 1.