Cost Reduction Efforts
The company is continuing its restructuring efforts, including a 10% reduction in force for Q4 and stabilization of Moses Lake optionality costs, leading to a lower run rate level.
Improved Cost Structure
In the Butte segment, costs were mainly improved over the prior quarter due to planned shutdown activities and stable to declining input costs.
Increase in Silicon Gas Prices
There was an increase in silicon gas prices attributable to product mix, with more higher-value products relative to the previous quarter.
Secured Short-term Loan
Secured a $7 million short-term loan with Anchor AS to support financial operations.
Completion of Mandatory Offer
Anchor AS assumed 60.2% ownership in REC Silicon after the completion of the mandatory offer for shares.