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| | October 21, 2008
6N Silicon announces new Head Office and launches Production Plant
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| | - http://www.newswire.ca/en/releases/archive/October2008/21/c7866.html
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| | October 21, 2008, Vaughan, Ontario, - 6N Silicon Inc. is pleased to announce its new Head Office and production facilities in Vaughan, Ontario. Shipments of solar grade polysilicon have commenced from the new 2,000 Tonne/year manufacturing facility, satisfying initial scheduled deliveries for 6N's volume customer contracts.
Primary funding for the new production operation was provided by the company's $20 million B Financing Round that closed in March of this year. Additional support was provided by the Government of Ontario's Next Generation of Jobs Fund. Production commenced within six months of the financing, and within four months of securing this pre-existing facility. The last few years have seen large-scale shortages of purified silicon in the solar industry. With this initial production plant, 6N has confirmed its ability to add capacity quickly and at low capital cost. Further production expansions are planned.
The use of standard, pre-existing light-industrial facilities distinguishes the 6N operations from traditional and other alternative purification processes. These new operations demonstrate the compact footprint and low input energy requirements of the 6N process. Development and refinement of the 6N process has been conducted through the company's three-year EOS Project, supported by the Government of Canada's Sustainable Development Technology Canada (SDTC) and Ontario's Innovation Development Fund (IDF). The EOS Project is ongoing and remains housed at 6N's original Mississauga facility.
Paolo Maccario, 6N Silicon CEO, said, "We are proud to have achieved this important milestone. On time and on budget, we have again demonstrated the core advantages of the 6N business and strength of our team. This is an exciting day for us and a promising time for the solar industry."
6N Founder and CTO, Scott Nichol added, "It is very gratifying to see our vision of an affordable and easily scalable process realized and to see our hard development work pay off with the launch of this full scale production operation. Now that this facility has reached stable production, we can't wait to add yet more capacity and refine the process even further."
About 6N Silicon
6N Silicon has developed a disruptive, low-temperature process that leverages the use of metal solvents for the cost-effective production of true solar grade silicon. The unique 6N Silicon approach satisfies two fundamental solar PV industry requirements; fast capacity growth with low overall cost. Headquartered in the Greater Toronto Area, 6N Silicon is in the heart of Canada's metal processing industry and expertise.
6N Silicon has received the Deloitte & Touche Technology Green 15 Award for the past two years in a row, recognizing it as one of the top green technology companies in Canada. The company has also received the Red Herring Top 50 Award. 6N investors include Good Energies, Ventures West and Yaletown Venture Partners. For more information, please visit 6N Silicon's web site at http://www.6nsilicon.com. |
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| | You can view the Next News Releases item: Thu Jan 22, 2009, ATEL Ventures Commits $5MM in Equipment Lease Financing to 6N Silicon Inc.
You can view the Previous News Releases item: Thu Sep 25, 2008, 6N Silicon receives coveted "Technology Green 15" Award at the 2008 Deloitte Technology Fast 50 Awards
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