The main supplier of high-purity cadmium telluride (CdTe) to First Solar, Canadian-based 5N Plus, has signed a new recycling agreement and three new supply agreements that initially increase the quantity of CdTe supplied to the thin-film leader by 30% but reach a 60% increase by 2013. The new agreements, which run until December 31, 2015, replace previous contracts, according to 5N Plus.
Jacques L'Écuyer, president/CEO of 5N Plus, said, “Our new agreements with First Solar will provide us with a solid and predictable revenue stream for the next five years and allow us to enhance our presence in the rapidly growing Asian market.”
5N Plus also announced plans to build a new recycling plant in Malaysia, which is expected to be operational by mid-2012. The new plant is intended to expand the company's recycling presence in Asia and provide recycling services for various solar cell manufacturing byproducts, including those produced by First Solar, which has module plants in the country.
5N Plus reported sales for the second financial quarter last month, which showed sales had increased by 24.8% to US$19,667,879 compared to US$15,753,445 for the second quarter of fiscal year 2010. For the six-month period ended November 30, 2010, sales increased by 20.8% to US$38,438,107 compared to US$31,806,665 for the same period last year.