Quebec — 5N Plus Inc. announced that it has successfully renewed and increased its multi-year agreement with First Solar for the supply of semiconductor materials associated with the manufacturing of thin-film photovoltaic (PV) modules.
The company says this latest agreement is the largest award to date and signals a transition to higher volumes of value-added compound semiconductor materials.
In line with First Solar’s recently announced growth plans, annual volume is expected to increase by 35% in 2023 and by more than 100% in 2024 from current levels. As with previous agreements, the contract is structured asymmetrically allowing 5N Plus to make the necessary planned investments in its Montreal facility to significantly increase the domestic supply of materials to the North American market by late 2023, incrementally to its current international offering.
Investments in 5N Plus manufacturing assets to increase production capacity will be in addition to those already being made to consolidate the Company’s recycling and refining activities in Montreal.
The Company is also expanding the development and manufacturing of critical materials at this location, including advanced semiconductor compounds and engineered powders used in solar, medical and security technologies.
“Not only does this renewal stand as a testament to the strong 15-year partnership between 5N Plus and First Solar, but also to our essential role and the unique expertise we bring to critical industries, offering sustainable sourcing solutions. As we execute on our strategy focused on value-added business opportunities, this agreement further cements our standing as a leading global supplier of engineered semiconductor compounds to the thin-film renewable energy industry. We remain extremely motivated by the sector’s long-term outlook and the opportunities ahead for 5N Plus,” said Gervais Jacques, President and CEO of 5N Plus.
“As we continue to scale our ability to deliver responsibly produced PV modules in support of America’s transition to a sustainable energy future, it is crucial that we can rely on a partner like 5N Plus to deliver the semiconductor materials we need,” said Mike Koralewski, Chief Manufacturing Operations Officer, First Solar. “We’re pleased to renew this longstanding relationship and look forward to working with 5N Plus to grow our global annual capacity to more than 20 GW by 2025.”
5N Plus’s semiconductor materials are imbedded in First Solar’s Series 6 and 7 PV modules in a specialty semiconductor stack which is about three percent the thickness of a human hair.