St. George,
Utah facility to produce materials for use in solar cells
for defense and commercial satellites
MONTRÉAL, April 18,
2024 /CNW/ - 5N Plus Inc. (TSX:
VNP) ("5N+" or the "Company"), a leading global producer
of specialty semiconductors and
performance materials, that it has been awarded US$14.4 million by the U.S. Department of
Defense for the production of space-qualified materials for solar
cells under its Defense Production Act Investment (DPAI)
Program.
5N+ manufactures and customizes high-purity, dislocation-free,
electrically-uniform and space-qualified germanium wafers, which
are vital for solar cells powering commercial and national security
satellites. Based on meeting certain conditions, over the next four
years, this award will enable 5N+ to upgrade and increase its
manufacturing capabilities at its St. George, Utah facility while supporting the U.S.
Department of Defense's domestic sources of supply.
"This is a testament to the quality of our high-purity specialty
semiconductors and our standing as a trusted supplier of critical
materials for critical applications," said Gervais Jacques, President and CEO of 5N+. "Our
enabling materials are frequently in orbit powering commercial and
defense satellites, and we are proud to have been recognized once
again as a key supplier to the U.S. Department of Defense."
About 5N+
5N+ 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+'s products to enable
performance and sustainability in their own products. 5N+ 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, Quebec,
5N+ 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. Such forward‐looking statements are
based on a number of estimates and assumptions that the Company
believes are reasonable when made, including that 5N+ will be able
to retain and hire key personnel and maintain relationships with
customers, suppliers and other business partners, that 5N+ will
continue to operate its business in the normal course, that 5N+
will be able to implement its growth strategy, that 5N+ will be
able to successfully and timely complete the realization of its
backlog, that 5N+ will not suffer any supply chain challenges or
any material disruption in the supply of raw materials on
competitive terms, that 5N+ will be able to generate new sales,
produce, deliver, and sell its expected product volumes at the
expected prices and control its costs, as well as other factors
believed to be appropriate and reasonable in the circumstances.
However, there can be no assurance that such estimates and
assumptions will prove to be correct. These statements are not
guarantees of future performance and involve assumptions, risks and
uncertainties that are difficult to predict and 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 the Company's 2023 MD&A dated
February 27, 2024, available on www.sedarplus.ca.
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 statements in this press release will transpire or
occur, or if any of them do so, what benefits that 5N+ will derive
therefrom. In particular, no assurance can be given as to the
future financial performance of 5N+. The forward‐looking statements
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.