Homerun Resources Inc.: LOI with Si&Mex for up to 365,000 Tonnes of Solar Glass per Year
Homerun Resources Inc. (TSXV: HMR, OTCQB: HMRFF) has signed a Letter of Intent (LOI) with Si&Mex Solutions do Brasil Limitada. The agreement entails Homerun providing up to 365,000 tonnes of solar glass annually to Si&Mex. The partnership aims to develop a High Purity Solar Crucible Manufacturing plant to support Si&Mex's solar module production, targeting up to 5GW annually starting in 2024 in Camacari, Bahia, Brazil. This venture is part of Homerun's strategy to leverage its high-purity silica sand resources within the solar and energy storage sectors. The initiative is expected to generate over 6,000 jobs and focus on sustainable manufacturing practices.
- Executed a LOI for up to 365,000 tonnes of solar glass supply annually.
- Partnership aims to develop a High Purity Solar Crucible Manufacturing plant.
- Target annual production of up to 5GW of solar modules starting in 2024.
- Project expected to create over 6,000 jobs.
- Focus on ESG-based technology and sustainable processes.
- Still at the LOI stage, not a finalized agreement.
- Dependent on successful development of a High Purity Solar Crucible Manufacturing plant.
- Potential risks in achieving the targeted 5GW annual production.
- Competitive solar market; Brazil ranks second to China in pre-construction solar capacity.
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has today (May 21, 2024) executed a Letter of Intent (LOI), between Homerun and Si&Mex Solutions do Brasil Limitada (Si&Mex).
The primary focus of the partnership between Homerun and Si&Mex is for Homerun to provide Si&Mex with up to 365.000 tonnes per year of solar glass supply, under agreed specifications and commercial terms.
The Parties will jointly develop plans for a High Purity Solar Crucible Manufacturing plant for Ingot and Wafer manufacturing in the Silica to Solar Supply Chain.
Si&Mex plans to produce up to 5GW in annual production (circa 10 to 12 million Solar Modules including bi-facial glass-on-glass) in Camacari, Bahia, Brazil starting in 2024.
With 113,147 MW of solar capacity in the pre-construction phase, Brazil ranks second to China (241,744 MW) in solar pre-construction globally (1).
Brian Leeners, CEO of Homerun stated, "The Homerun strategy, as articulated over the past year, has been to utilize our own high-purity silica sand resources in an integrated plan focused on the energy transition verticals of solar and energy storage. We are very excited to be working in partnership with the team at Si&Mex Solutions toward the delivery of a vertically complete silica to solar industry in Brazil."
Murilo Inácio Ferreira, Director and Legal Representant of Si&Mex stated, "The Brasil Fotovoltaico project will target the production of the cleanest Solar Module using our ESG Based technology and Governance towards the highest sustainable process, via Silicon 5.0 Si&Mex®. With more than 6.000 (six thousand) direct and indirect jobs generated, the project will impact positively, both the local and national landscape and generally solar manufacturing in the Americas."
It is the mutual intention for both companies to explore opportunities in two main partnership pathways:
Technical Collaboration and the Commercial Supply of Glass from Homerun to the Si&Mex Solar Manufacturing facility in Camacari, Bahia, Brazil.
Investigate further synergies between the companies and create a detailed partnership operating plan with specific initiatives, timelines, and bilateral compensation.
Specifically, Homerun and Si&Mex agree to collaborate on the following:
Negotiate and sign a long-term Supply Purchase Agreement for up to 365.000 (three hundred and sixty-five thousand) tonnes of Solar Glass under agreed specifications and commercial conditions.
Develop plans for a High Purity Solar Crucible Manufacturing plant for Ingot and Wafer manufacturing in the Silica to Solar Supply Chain.
Develop a mutual CO2 footprint and plant designs and processes based on high levels of Sustainability, that will support the Parties joint initiative to produce the Greenest Solar Module in the world on the Si&Mex Manufacturing site.
Facilitate access to the Parties operations to establish manufacturing integration leverage
Further partnership opportunities include:
Joint Patents and IP in High Purity Silica Crucible manufacturing.
Innovative Solar Module and Solar Glass manufacturing techniques.
Optimization and development of new technology routes for glass applications in the Solar Supply Chain.
Cooperative exploration of overseas opportunities.
About Si&Mex Solutions do Brasil Limitada (https://www.siemex.solutions/)
Si&MEx Solutions is a technology, engineering and ESG based company with decades of experience in the Silicon and Photovoltaics Field. With an international footprint, the company is stepping into Manufacturing with high circularity, the lowest CO2-equivalente footprint and high automation and digitalization applied to Silicon Photovoltaics Manufacturing. On behalf of the Board of Directors of Si&Mex Solutions do Brasil Limitada.
About Homerun Resources (https://homerunresources.com/)
Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries.
On behalf of the Board of Directors of Homerun Resources Inc.
"Brian Leeners"
Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".
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