Sylarus to Supply Solar Cell Substrates with 5N Plus
5N Plus a manufacturer of high-purity metals and compounds for electronic applications has agreed to subscribe convertible debt of Sylarus Technologies, LLC of Saint George, Utah a major producer of germanium substrates for solar cells.
The financing is designed to help fund Sylarus' expansion plans. Concurrently, 5N Plus and Sylarus have also entered into a long-term supply and recycling agreement under which 5N Plus will provide high-purity germanium feedstock to Sylarus and will recycle various germanium containing residues originating from Sylarus' crystal growing and wafer manufacturing activities.
5N Plus President and CEO, Jacques L'Écuyer said, "We welcome the opportunity to provide financing to Sylarus and are excited about Sylarus' potential for significant growth. Sylarus is one the very few germanium substrate suppliers used for high- efficiency solar cells in both space and terrestrial applications.”
This is an area of the solar market that we were not addressing through our existing product offering. Together with the supply and recycling agreement we entered into with Sylarus, this financing further strengthens our germanium related activities and provides a valuable outlet for our subsidiary Firebird's line of products," he added.
"We are equally delighted by this agreement" commented Sylarus President, Scott Mitchell, "as 5N Plus' financing will enable us to more effectively implement our expansion plans. In addition, Sylarus will be provided with a reliable and high-quality germanium feedstock and cost effective recycling options. 5N Plus is a leading provider of material solutions to the solar industry and we expect a positive impact on our business from working with 5N Plus."
