Norwegian silicon producer REC Silicon ASA reported Q3 revenues of $75.5 million, up from $61.4 million in the previous quarter. The corresponding EBITDA during the third quarter was $3.6 million compared to $1.3 million in the previous quarter. The company reported a cash balance of $88.0 million on September 30, 2017. This represents an increase of $16.6 million compared to June 30, 2017. Silicon gas sales volumes for the quarter exceeded expectations at 904 tons. Third quarter polysilicon production of 2,835 tons was slightly below guidance given at the previous quarter.
According to the company, the JV facility expects to start up the first silane unit and FBR reactors in Q4 2017. The second silane unit is scheduled to start up in Q1 2018. The company continues to negotiate the deferral of the remaining $169 million capital contributions until after 2018.
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