Montreal, October 15, 2024 — 5N Plus Inc. (TSX: VNP), a global leader in specialty semiconductors and performance materials, announced today that its subsidiary, AZUR SPACE Solar Power GmbH (“AZUR”), has successfully completed its 2024 production capacity expansion program ahead of schedule.

AZUR, a key provider of advanced solar cell technology for space applications, surpassed its initial target of a 30% increase in production capacity, achieving a 35% increase instead. Building on this success, the company is planning an additional 30% capacity increase by the end of 2025, requiring minimal further investment as much of the necessary equipment has already been acquired and delivered.

“The completion of this program and the planned capacity increase for next year position AZUR to meet the growing needs of our strategic partners, enabling continued revenue growth and improved profitability,” said Gervais Jacques, President and CEO of 5N Plus. “Since AZUR became part of 5N Plus in 2021, sales have significantly increased, reflecting sustained demand in the space sector and AZUR’s leadership in solar cell technology.”

   The 2024 capacity expansion program, initiated in early 2023, increased production across all departments, including epitaxy growth, cell production, assembly, and testing. The implementation of an additional production shift in 2023 enabled AZUR to transition to 24/7 operations. New equipment was installed and commissioned to increase overall production yield and automation, enhancing production capabilities across all stages.

Looking forward, the additional 30% capacity increase planned for 2025 will be driven by newly installed epitaxy reactors, used for front-end production of multi-layer semiconductor crystals through metal-organic chemical vapor-phase epitaxy (MOVPE), a key process in AZUR’s high-efficiency solar cell production for space applications. Other upgrades included enhancements to tools used for metal and dielectric deposition, with additional automation systems to be commissioned soon.

“As AZUR approaches its 60th anniversary, the team has much to be proud of,” Jacques added. “I want to thank everyone at 5N Plus and AZUR for their dedication in completing the 2024 program ahead of schedule. We will continue to work diligently to complete the 2025 expansion as planned, further strengthening our position as a trusted partner in the industry.”

About 5N Plus Inc.

  5N Plus Inc. is a global leader in the production of specialty semiconductors and performance materials, with ultra-pure materials that form the core components of its customers’ products. These customers rely on 5N Plus for products that enable high performance and sustainability in industries such as renewable energy, security, space, pharmaceuticals, medical imaging, and industrial sectors. Headquartered in Montreal, Quebec, 5N Plus operates research, development, manufacturing, and commercial centers in Europe, North America, and Asia.

Forward-Looking Statements

  This press release contains forward-looking statements that are based on a number of estimates and assumptions made by the company. These include assumptions about retaining key personnel, maintaining customer relationships, implementing the company’s growth strategy, and continuing normal business operations. The company cautions that such statements are subject to risks and uncertainties, which may cause actual results to differ significantly from the estimates. A detailed description of risks can be found in the company’s 2023 Management’s Discussion and Analysis (MD&A) report dated February 27, 2024, and other filings available at www.sedarplus.ca.

(IRuniverse, Kasumi)

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