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Poly Silicon Producer Secures Equity

Silicor Materials, Inc. has secured $105M in equity capital agreements to support the construction of its first commercial-scale manufacturing of Polysilicon at Grundartangi, Iceland. This plant will be using green energy and proprietory new technology to produce the vital ingredient in solar cell.

Silicor Materials, Inc. has secured $105M in equity capital agreements to support the construction of its first commercial-scale manufacturing of Polysilicon at Grundartangi, Iceland. This plant will be using green energy and proprietory new technology to produce the vital ingredient in solar cell.

“Iceland is a perfect partner for Silicor, with its suite of attractive trading relationships and compelling power market fundamentals,” said Neil Auerbach, Vice Chairman of the Silicor board and founder and managing partner of Hudson Clean Energy Partners, when announcing the financing in Iceland.
 
Silicor claims that their production is a lower cost alternative to traditional polysilicon. The proprietory production method is metals-based and requires two-thirds less energy than traditional methods and requires no toxic chemicals.

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Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

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Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors