On February 6th, Norwegian silane and polysilicon producer REC Silicon ASA released its performance report for the fourth quarter of 2024.
The report revealed that REC Silicon’s continuing operating revenue for the fourth quarter of 2024 was USD 29.7 million, down from USD 32.8 million in the third quarter. The company also reported a continuing EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) loss of USD 5.3 million, improved from a loss of USD 6.4 million in the previous quarter. Due to the cessation of the solar materials segment, the third-quarter EBITDA figures were restated. The overall EBITDA for the quarter stood at -USD 56.5 million, compared to -USD 42.7 million in the previous quarter.
Notably, total polysilicon sales in the fourth quarter amounted to 377 metric tons, all related to fulfilling supply obligations after the decision to halt polysilicon production at the Butte plant in February 2024. In the third quarter, REC Silicon’s total polysilicon sales were 169 metric tons.
It is worth mentioning that in January 2025, REC Silicon announced the cessation of production at its Mohawk Lake plant in Washington, USA, marking the end of its polysilicon operations in the United States. Earlier, the company had shut down its polysilicon production facility in Montana, USA, in early 2024.
REC Silicon stated that while polysilicon production will cease at the Mohawk Lake plant, the related silicon gas production equipment will be maintained in a “safe and recoverable state,” keeping the equipment ready at minimal temporary costs for timely restart. This move aims to align with future market demand for silicon anodes or other gases, as the company shifts its current business focus to the silicon gas sector.
