5N Plus Inc. Scales Up and Expands Critical Materials Supply Agreement with First Solar
MONTREAL, Aug. 5, 2025 /CNW/ - 5N Plus Inc. (TSX:VNP) ("5N+" or "the Company"), a leading global producer of specialty semiconductors and performance materials, today announced that it has entered into a new and expanded supply agreement with First Solar, Inc. ("First Solar") (NASDAQ:FSLR) including revised terms to the contract period underway (2025-2026) to reflect increased semiconductor compound volume commitments, as well the terms for the subsequent contract period (2027-2028), also reflecting increased volumes.
Under the new contract terms, 5N+ will increase its production and delivery of cadmium telluride (CdTe) by 33% for the 2025-2026 period compared to initial levels, and by an additional 25% for the subsequent term/2027-2028 period. These specialty semiconductors materials are used by First Solar for the manufacture of thin-film photovoltaic (PV) solar modules integrated to its semiconductor stack. In addition, starting in 2026, 5N+ will begin to produce and deliver Cadmium Selenide (CdSe) to First Solar, another critical material utilized in their PV solar panel manufacturing.
This historic new agreement reflects the strength of 5N+'s longstanding collaboration with First Solar and supports their growing semiconductor supply needs as they scale their U.S. manufacturing capacity with a strategic focus on using critical materials sourced from American sources or allied nations. As the leading American solar power generation technology manufacturer, First Solar is well positioned to support economic growth, digital infrastructure expansion, and accelerating electrification in the United States, with advanced American-made technology. The company has four operating factories in Ohio and Alabama, and a fifth expected to begin commercial production in the second half of 2025. As First Solar ramps up its domestic production, it expects to achieve 14 gigawatts (GW) of American manufacturing capacity in 2026.
"We are proud to help enable the growth in U.S. power generation by expanding our partnership with America's largest solar technology manufacturer," said Gervais Jacques, President and CEO of 5N+. "At a time when the security of critical materials supply chains are under intense scrutiny, we're pleased to reinforce our position as a trusted partner, with the expertise, supply chain and capacity to deliver the advanced materials this critical and growing sector depends on."
"Our ability to meet this significant increase in volume with minimal additional investment is a direct result of our manufacturing flexibility and the recent expansion of our semiconductor compound production and recycling capabilities in Canada and Germany," added Mr. Jacques.
"Access to secure critical materials supply chains supports our growth strategy, making 5N+ a valued long-time partner," said Mike Koralewski, Chief Supply Chain Officer, First Solar. "They have consistently demonstrated the ability to scale production capacity while maintaining the highest quality standards. Crucially, they continue to support our efforts to onshore production of critical minerals."
About First Solar, Inc.
First Solar, Inc. (NASDAQ:FSLR) is America's leading photovoltaic ("PV") solar technology and manufacturing company. The only US-headquartered company among the world's largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with its advanced, uniquely American thin film PV technology. Developed at R&D labs in California and Ohio, the Company's technology represents the next generation of solar power generation, providing a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV modules. For more information, please visit www.firstsolar.com.
About 5N+
5N+ is a leading global producer of specialty semiconductors and performance materials. The Company's ultra‐pure materials often form the core element of its customers' products. These customers rely on 5N+'s products to enable performance and sustainability in their own products. 5N+ deploys a range of proprietary and proven technologies to develop and manufacture its products. The Company's products enable various applications in several key industries, including renewable energy, security, space, pharmaceutical, medical imaging and industrial. Headquartered in Montréal, Quebec, 5N+ operates R&D, manufacturing and commercial centers in strategically located facilities around the world including Europe, North America and Asia.
Forward‐Looking Statements
Certain statements in this press release may be forward‐looking within the meaning of applicable securities laws. Such forward‐looking statements are based on a number of estimates and assumptions that the Company believes are reasonable when made, including that 5N+ will be able to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners, that 5N+ will continue to operate its business in the normal course, that 5N+ will be able to implement its growth strategy, that 5N+ will be able to successfully and timely complete the realization of its backlog, that 5N+ will not suffer any supply chain challenges or any material disruption in the supply of raw materials on competitive terms, that 5N+ will be able to generate new sales, produce, deliver, and sell its expected product volumes at the expected prices and control its costs, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict and 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. A description of the risks affecting the Company's business and activities appears under the heading "Risk and Uncertainties" of 5N+'s 2024 MD&A dated February 25, 2025 and note 10 of the unaudited condensed interim consolidated financial statements for the three-month and six-month periods ended June 30, 2025 and June 30, 2024 available on SEDAR+ at www.sedarplus.ca.
Forward‐looking statements can generally be identified by the use of terms such as "may", "should", "would", "believe", "expect", the negative of these terms, variations of them or any similar terms. No assurance can be given that any events anticipated by the forward‐looking statements in this press release will transpire or occur, or if any of them do so, what benefits that 5N+ will derive therefrom. In particular, no assurance can be given as to the future financial performance of 5N+.
The forward‐looking statements contained in this press release is made as of the date hereof and the Company has no obligation to publicly update such forward‐looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward‐looking statements. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of the Company's expected financial results, as well as the Company's objectives, strategic priorities and outlook, and in obtaining a better understanding of the Company's anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
SOURCE 5N Plus Inc.
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