RayGen's Carwarp, Australia power plant utilizing AZUR
Space's triple junction solar cells officially declared
'open'
MONTREAL, Sept. 5,
2023 /CNW/ - 5N Plus Inc. (TSX: VNP) ("5N Plus" or
the "Company"), a leading global producer of specialty
semiconductors and performance materials, announced today that,
through its wholly-owned subsidiary, AZUR SPACE Solar Power
GmbH ("AZUR"), it supplied the triple junction solar cells
utilized to help deliver the world's largest and highest efficiency
next-generation long duration solar energy storage project, now
officially declared 'open'.
AZUR's high-efficiency solar cells are key components of
Australian solar-and-storage company RayGen's proprietary solar
technology. Sunlight, concentrated by tracking mirrors onto
RayGen's solar receiver, is converted by an array of RayGen solar
modules, tiled with AZUR cells, into electricity and by-product
heat. The solar electricity is cost-effective and environmentally
friendly, and the heat offers an attractive synergy for RayGen's
water-based electro-thermal energy storage.
"We are thrilled to have supported longtime partner RayGen to
help deliver the world's largest and highest efficiency solar
storage photovoltaic project through innovative technology. AZUR's
high-efficiency, high-performance solar cells enable RayGen to
provide energy on a large scale, both consistently and on
short-notice, with minimal environmental impact. We look forward to
continuing to support RayGen as they pursue additional
utility-scale projects critical to the energy transition," said
Gervais Jacques, President and CEO
of 5N Plus.
RayGen has made world-leading breakthroughs in solar power
technology and renewable energy storage. Its flagship power plant
in Carwarp, Victoria (Australia) was officially inaugurated and
declared 'open' on August 31, 2023, delivering 4 MW solar
and 2.8 MW / 50 MWh storage capacity, making it the
world's largest and lowest-cost next-generation long-duration
energy storage projects.
About 5N Plus Inc.
5N Plus 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 Plus's products to enable performance and sustainability
in their own products. 5N Plus 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, Québec, 5N Plus 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. Forward-looking
information and statements are based on the best estimates
available to the Company at the time and involve known and unknown
risks, uncertainties or other factors that 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 Plus' 2022 MD&A dated February 21, 2023 available
on www.sedar.com.
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 information in this press release will transpire or
occur, or if any of them do so, what benefits that 5N Plus
will derive therefrom. In particular, no assurance can be given as
to the future financial performance of 5N Plus. The
forward-looking information 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.
SOURCE 5N Plus Inc.