REC Silicon Hopeful it Will Restart Moses Lake Plant by 2024

REC Silicon is looking to restart its Moses Lake facility in the future, but things are murky as to when that will exactly happen.

The company blames uncertain market conditions and Chinese tariffs placed on polysilicon produced in the United States as reasons for why the Fluidized Bed Reactor (FBR) plant in Moses Lake was shut down in July of 2019.

REC now says it is working towards maintaining the ability to restart production of the Moses Lake FBR facility in 2023. However, estimates of future cash flows by the company include the assumption that a restart of the Moses Lake facility will happen around the beginning of 2024.

REC's CEO and President James May II wrote in a letter in the company's latest financial reports that "the necessary building blocks to support the restart of the Moses Lake facility are coming together."

May II identified several opportunities for REC in the near future. The proliferation of electric cars will mean more silicon anode materials will need to be developed for use in Lithium-Ion batteries. The Norwegian silicon company's FBR technology is also well positioned to provide REC with some expected market growth due to its ability to produce low cost, low carbon footprint, solar grade polysilicon.

Finally and perhaps most importantly, solar wafer manufacturing outside of China may create opportunities for REC Silicon to restart the FBR facility in Moses Lake.