Moses Lake, Washington USA - May 27, 2026: REC Silicon ASA (REC Silicon) announced that its wholly owned subsidiary, REC Silicon Inc, and REC Silicon Inc’s wholly owned subsidiaries have extended an unsecured USD 10.0 million short-term loan with Hanwha Global Americas Corporation.
Hanwha Global Americas Corporation is an affiliate of the company’s largest shareholder, Anchor AS.
This loan was extended through the existing USD 10.0 million short-term loan, which originally closed on May 27, 2025. The maturity date of the extended loan is May 27, 2027.
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.