MONTREAL and LOVELAND, CO, Jan. 25 /CNW Telbec/ - 5N Plus Inc. (TSX:VNP), a developer and producer of high-purity metals and compounds for electronic applications and Abound Solar, Inc (formerly AVA Solar), a manufacturer of low-cost, thin-film photovoltaic (PV) solar modules, announced today that they have entered into a PV module recycling agreement and signed a memorandum of understanding for the supply of 5N Plus products. Under the terms of the recycling agreement, 5N Plus will provide recycling services for solar modules and manufacturing scrap produced by Abound Solar. The output of the 5N Plus recycling process will be recyclable glass and raw chemicals, ready to be processed into new finished products. Abound Solar has also signed a memorandum of understanding (MOU) for the supply of semiconductor compounds from 5N Plus, to be used to manufacture the company's next-generation thin-film solar modules. The MOU is expected to lead to a long-term supply agreement for products from 5N Plus to Abound Solar.
5N Plus President and Chief Executive Officer Jacques L'Écuyer stated, "This recycling agreement with Abound Solar is in line with our strategy aimed at providing value to our customers as they develop product stewardship schemes and aim to optimize product life cycles. We intend to continue to invest in our new facility in Wisconsin to recycle Abound's solar modules and expand our capabilities in this area. Our relationship with Abound is further strengthened by our memorandum of understanding and we are excited about the prospects of further developing our cadmium telluride and cadmium sulphide business."
"Abound Solar modules are produced using the most environmentally-friendly production process in the industry. This extension of our relationship with 5N Plus will ensure that at end-of-life, our modules will be recycled in the most sustainable manner and secure a long-term supply for our raw materials," said Abound Solar President and CEO, Tom Tiller. "5N Plus is a leading producer of semiconductor materials; their expertise will maximize recycling yields and create a true cradle-to-cradle solution for the materials used in our product."
About 5N Plus Inc.
5N Plus draws its name from the purity of its products, 99.999% (five nines or 5N) and more. 5N Plus, which has its head office in Montreal, Quebec, develops and produces high-purity metals and compounds for electronic applications and provides its customers with recycling solutions. The Company is an integrated producer with both primary and secondary refining capabilities. 5N Plus focuses on specialty metals such as tellurium, cadmium and selenium and on related compounds such as cadmium telluride and cadmium sulphide. The Company's products are critical precursors in a number of electronic applications, including the rapidly-expanding solar (thin-film photovoltaic) market, for which 5N Plus is a major supplier of cadmium telluride, and the radiation detector market. Additional information about 5N Plus is available on its Web site at www.5nplus.com.
About Abound Solar
Abound Solar, formerly AVA Solar, was founded in 2007 to commercialize a proprietary process for manufacturing thin-film photovoltaic modules. Built upon 15 years of development at Colorado State University and with support from the National Renewable Energy Laboratory, Abound Solar has developed a robust, commercial-scale, continuous process for producing solar modules that significantly reduces the cost of generating solar electricity. The company produces solar modules at its manufacturing facility in Longmont, Colorado. For additional information, visit www.abound.com.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may be forward-looking. Forward-looking statements are based on the best estimates available to the Company at the time and involve known and unknown risks, uncertainties or other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward- looking statements.
SOURCE 5N Plus Inc.
For further information: For further information: Jacques L'Écuyer, President and Chief Executive Officer, 5N Plus Inc., (514) 856-0644, jacques.Lecuyer@5nplus.com; Ray Rahmati (for Abound Solar), Soho Square PR, (202) 729-4061, firstname.lastname@example.org