Silicor Materials and MT Højgaard Ink $226.5M USD Construction Contract

Solar silicon producer continues momentum toward first commercial-scale facility in Iceland 

SAN JOSE, Calif. — Silicor Materials, a producer of high-quality solar silicon, today announced the signing of a contract with MT Højgaard, a global player in the construction and civil engineering industry, for the design and construction of Silicor's commercial-scale plant in Grundartangi, Iceland.

The companies have worked together for more than a year to optimize the design of the 121,000 square-meter production facility, which will supply photovoltaic (PV) cell and module manufacturers around the world with at least 16,000 metric tons of solar silicon each year.

Under the terms of the agreement, worth more than $226.5M USD, MT Højgaard is responsible for various aspects of plant construction, as well as any design, planning and consulting support required throughout the process.

"This collaboration is a prime example of our ability to add value to projects from the initial stage, ensuring that customers like Silicor achieve the greatest possible economic benefit in terms of both planned production and future flexibility," said Jóannes Niclassen, Vice President of MT Højgaard.

Silicor's solar silicon is a lower-cost, environmentally friendly alternative to traditional polysilicon, allowing manufacturers to reduce production costs with no impact to product performance or quality. The material, which currently powers more than 20 million PV cells around the world, is produced through a proprietary metals-based process that consumes significantly less energy than traditional methods.

This news comes on the heels of Silicor's multi-million dollar equipment contract with SMS Siemag, as well as the finalization of the land lease and port agreements with local Icelandic authorities.

"One by one, we continue to check off the boxes required to get our commercial-scale plant in the ground—on time, on budget, and with some of the biggest names in the business," said Terry Jester, CEO of Silicor Materials. "MT Højgaard's unparalleled experience across the North Atlantic region has proven to be a major asset to our team throughout this process, and we look forward to planting the first shovel in the ground on this world-class facility."

Construction on Silicor's Iceland facility is scheduled to begin in early 2016.