REC Silicon reports Q4 results
- REC Silicon press release (OTCPK:RNWEF): Q4 Revenue of $40.5M (+28.2% Y/Y).
- EBITDA ($31.2M) impacted by Butte poly shutdown accruals and increased manufacturing cost at Moses Lake.
- Moses Lake startup process commenced, process on time for first delivery in Q1 2024 and full capacity by year-end
- Process to optimize Butte operations continues, discontinuing EG polysilicon production during 2024
- Yulin JV sale completed – Gross proceeds of $136.1M received in December 2023
- December 2023 cash balance of $170.9M.
