SunSi Energies, a China-based start-up provider of trichlorosilane (TCS), the raw material used to produce polysilicon, turned its first quarter of profit in Q411, the company announced Tuesday.
Revenue totalled $15.1 million for the 2011 financial year, and $10.5 million in Q411, following the company’s acquisition of 90% of TCS distribution company Baokai in December 2010, and a 60% equity interest in TCS manufacturing company Wendeng several months later. The gross margin was about $2 million in each period.
Sunsi currently controls 55,000 metric tons of TCS production and aims for 140,000 metric tons or more by the end of calendar 2012, chief executive officer David Natan said.
This would equate to revenue potential in excess of $200 million per year.
The company has entered into negotiations to acquire a scalable TCS manufacturing facility with current production capacity of 20,000 metric tons and infrastructure to expand to 60,000MT. A 10,000MT expansion of capacity at Wendeng is to be fully operational in mid-to-late October 2011.
Mr Natan described achieving net profitability in Q411 as “an important milestone”.