Further expansion of the partnership is planned
Homerun Resources (TSX.V: HMR, FSE: 5ZE, WKN: A3CYRW) has signed a letter of intent with Brazilian company Si&Mex Solutions do Brasil Limitada. It provides for the annual supply of up to 365,000 tonnes of solar glass. The two parties will also jointly develop plans for a plant to produce high-purity solar crucibles. These crucibles will be used for the production of ingots and wafers, which will then be used in solar installations.
Homerun Resources will thus become a leading supplier of high-purity silicon for Si&Mex. Si&Mex intends to build up an annual production of up to five gigawatts in Camacari, in the Brazilian province of Bahia, from 2024. This corresponds to around ten to twelve million solar modules that need to be manufactured.
With a solar capacity of 113,147 megawatts in the pre-construction phase, Brazil is currently second only to China (241,744 MW) in terms of global solar capacity in the pre-construction phase. Access to high-purity silicon is therefore of crucial importance for Brazilian solar module manufacturers.
Further expansion of the partnership is planned
Brian Leeners, CEO of Homerun Resources, said: “Homerun’s strategy over the past year has been to utilise our own high purity silica sand resources in an integrated plan focused on the energy transition verticals of solar and energy storage. We are very pleased to be working with the Si&Mex Solutions team to deliver a vertically complete silica sand product to the Brazilian solar industry.”
Murilo Inácio Ferreira, the director and legal representative of Si&Mex, was also delighted with the new co-operation. He explained: “The Brasil Fotovoltaico project aims to produce the cleanest solar modules using our ESG-based technology and governance towards the most sustainable process via Silicon 5.0 Si&Mex®. With more than 6,000 direct and indirect jobs created, the project will have a positive impact on the local and national landscape as well as on solar manufacturing in the Americas in general.”
Both companies intend to develop their co-operation in two main directions: The first direction involves technical co-operation and the commercial supply of glass by Homerun Resources to Si&Mex Solar’s production facility in Camacari. In a second step, further opportunities for co-operation will be sought. This includes the development of a detailed operational plan for the partnership with specific initiatives, timelines and bilateral compensation payments.
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