REC Silicon - Announces the Close of a USD 13.0 million Short Term Loan with Anchor AS

Summary by AI ^BETAClose X

REC Silicon ASA has secured a USD 13.0 million unsecured short-term loan from Anchor AS, a subsidiary of its largest shareholders, to address urgent operational capital needs. This loan, with identical terms to a previous USD 7.0 million facility and a maturity date of May 14, 2026, highlights the company's current lack of sufficient cash to meet its financial obligations without continued support from its major shareholder or additional, yet unfinalized, financing.

Disclaimer*

Lysaker, Norway - November 14, 2025 - REC Silicon ASA (“REC Silicon”) announced today that it has entered into an unsecured USD 13.0 million short-term loan agreement with Anchor AS to fund the company’s urgent operational capital needs.

Anchor AS is a Norwegian subsidiary of REC Silicon’s two largest shareholders: Hanwha Solutions and Hanwha Corporation.

The terms and conditions of this loan are identical to those of the USD 7.0 million loan between REC Silicon ASA and Anchor AS, which closed on October 13, 2025. The maturity date is May 14, 2026.

REC Silicon does not have sufficient available cash to meet debt service and other anticipated operating cash flow requirements going forward without the continued support of the major shareholder, Hanwha, or additional sources of capital. Therefore, it will soon require additional financing beyond this loan, either from Hanwha or from other sources of capital, none of which have yet been finalized or guaranteed.