REC Silicon secures $7m short-term loan, seeks further funding

REC Silicon ASA has entered into an unsecured $7 million short-term loan agreement with Anchor AS to fund urgent operational capital needs. Anchor AS is a Norwegian subsidiary of REC Silicon's two largest shareholders, Hanwha Solutions and Hanwha Corporation. The loan's terms align with existing bank and shareholder agreements, maturing on April 13, 2026.

Despite securing this loan, REC Silicon indicated it lacks sufficient available cash for debt service and anticipated operating cash flow requirements. The company expects to need additional financing beyond this current loan, from Hanwha or other sources, though none have been finalized or guaranteed.