FESIL AS

Tuesday, 18 January 2011 01:00

FESIL and DELTA initiate search for strategic partner for solar grade silicon producer

FESIL and DELTA announce they have taken the decision to commence a search for a strategic partner in order to be able to further develop their joint venture solar grade silicon manufacturer, FESIL Sunergy. FESIL and DELTA have retained ING as their financial advisor who will assist in the search for a suitable partner for this promising solar grade silicon producer. A suitable partner will be selected with the aim of bringing the developed proprietary process to commercial reality and capitalising on first mover advantage.

The strategic search is expected to be finalised in the coming months. Mr Thorstein Abrahamsen, President and CEO of the FESIL Group and Mr Peter Boerma, CEO of DELTA NV: “We are convinced that attracting a partner will give FESIL Sunergy the best possible prerequisites to make it the leading producer of solar grade silicon going forward. We are looking for a partner who is willing to invest in renewable initiatives and who preferably can contribute to the commercialisation of the product."

About FESIL Sunergy

FESIL Sunergy AS is a joint venture between FESIL AS and DELTA NV and has developed a proprietary process for the production of solar grade silicon, specifically designed for the solar industry. The process directly produces solar grade silicon with high cell efficiencies being achieved. FESIL Sunergy's process has key commercial advantages over competing processes, including 65-80% lower capex, 20-40% lower opex, a significantly reduced CO2 footprint and an accelerated ramp-up time.

Further information can be obtained from our Media team by contacting Mr Thorstein Abrahamsen, CEO FESIL AS on +47 909 24 602. Any queries from strategic or financial investors should be directed to Mr Jourdan Thompson at ING Corporate Finance on +44 (0)20 7767 1017.

Trondheim, Norway January 2011

Published in Press Releases - FESIL Sunergy
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