REC Group Plans Strategic Collaboration With Swiss Solar Technology Leader Meyer Burger

Munich (ots/PRNewswire) - Following the successful launch of REC
Group's (http://www.recgroup.com/) groundbreaking Alpha
(http://www.recgroup.com/alpha) solar panel at Intersolar in Munich
in May 2019, the leading European brand for solar photovoltaic panels
today announced that it has signed a memorandum of understanding for
a strategic collaboration with the Swiss technology leader, Meyer
Burger (https://www.meyerburger.com/en/). As a front running
innovator leading the pack in solar technology, REC Group is looking
to further leverage on the already existing collaboration.

Based on the cutting-edge technology equipment by Meyer Burger,
REC's Alpha module achieved groundbreaking efficiencies. As the
world's most powerful 60-cell solar panel, the announcement of Alpha
was met by immediate interest and demand by the market and is
expected to be a game-changer in the industry.

REC intends to now increase its 600MW heterojunction technology
(HJT) and SmartWire Connection Technology (SWCT(TM)) production
capacity for Alpha, using equipment from Meyer Burger, to multiple GW
in cooperation with a potential strategic partner. REC is actively
reviewing potential partners for the expansion. In exchange for
adequate exclusivity protection for specific HJT and SWCT technology,
REC is in principle prepared to enter into a profit-sharing agreement
with Meyer Burger. The terms for this are to be agreed by the
companies and their respective Boards. Building on the leading
expertise that Meyer Burger brings to the table, REC is confident
that this intense collaboration will create significant long-term
company value for both parties and will reshape the market.

REC Group's CEO Steve O'Neil states: "Together with Meyer Burger,
REC developed the industry's flagship panel, the Alpha. We are
confident that strengthening our partnership with Meyer Burger will
further drive innovation and higher efficiencies, the only way to
strongly empower consumers with clean and affordable solar energy and
accelerate energy autonomy of communities worldwide."

"As the leading premium and integrated non-Chinese solar panel
manufacturer, and with its reputation for operational excellence, REC
is the ideal partner to continue the commercialization of Meyer
Burger's high efficiency PV technologies," comments Hans Brändle, CEO
of Meyer Burger.

About REC Group:

Founded in Norway in 1996, REC Group is a leading vertically
integrated solar energy company. Through integrated manufacturing
from silicon to wafers, cells, high-quality panels and extending to
solar solutions, REC Group provides the world with a reliable source
of clean energy. REC's renowned product quality is supported by the
lowest warranty claims rate in the industry. REC Group is a Bluestar
Elkem company with headquarters in Norway and operational
headquarters in Singapore. REC Group employs 2,000 people worldwide,
producing 1.5 GW of solar panels annually.

Find out more at recgroup.com (http://www.recgroup.com/) and on:
LinkedIn: https://www.linkedin.com/company/rec_/
Twitter: https://twitter.com/RECGroupMedia
Facebook: https://www.facebook.com/RECGroupSolar/

For further information please contact:
Agnieszka Schulze
Head of Global PR, REC Group
Tel.: +49 89 54 04 67 225
E-mail: agnieszka.schulze@recgroup.com

REC Solar EMEA GmbH
Leopoldstraße 175
80804 Munich, Germany
Managing Director: Cemil Seber
Court of Registration: Munich HRB 180306
VAT ID-No: DE266243545

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ots Originaltext: REC Solar
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