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Heliene Inc. Executes a Memorandum of Understanding with Canadian Premium Sand Inc.

·2 min read

SAULT STE. MARIE, Ontario, September 12, 2022--(BUSINESS WIRE)--Heliene Inc. ("Heliene" or the "Company") is pleased to announce that it has entered into a memorandum of understanding ("MOU") with Canadian Premium Sand Inc. ("CPS", TSCV: CPS) concerning continued discussions with respect to a definitive commercial offtake agreement for patterned solar glass for the Company from CPS’s glass manufacturing facility being developed in Selkirk, Manitoba.

Heliene, a Customer First provider of North American made solar modules, is focused on establishing a domestic, low-carbon solar supply chain to support its growth strategy in North America. Heliene has experienced significant growth since starting its U.S. operations in Minnesota in 2017. The local supply of CPS glass will enable Heliene to meet accelerating solar demand while ensuring certainty and quality, thanks to the supply of regional components of its bill of materials, as part of the overall target or reshoring its supply chain.

"Following several months of progressive discussions and a visit to Heliene’s Mountain Iron facilities earlier this year, we are delighted to now enter into an MOU with Heliene regarding long-term supply of our low-carbon, patterned solar glass," stated CPS President & CEO, Glenn Leroux. "Heliene’s anticipated glass demand in 2024 reflects over 40% of our production capability for Phase 1 of our facility. We look forward to working with Heliene as a strategic partner and to support their future growth plans."

Martin Pochtaruk, President of Heliene comments, "Amid exploding solar demand and trade volatility, our customers seek peace of mind that they are receiving the highest quality, competitively priced solar modules exactly when and where they need them. Having CPS supply us with a low-carbon glass, free of any geopolitical pressures is an enormous leap forward in the right direction."

CPS continues to advance other development initiatives that will bring the solar glass project to a shovel-ready status, including detailed engineering, permitting, silica sand resource upgrading and testing and ongoing negotiations to convert other existing expressions of interest to commercial offtake agreements.

About Heliene

Heliene is one of North America’s fastest-growing domestic module manufacturers serving the utility-scale, commercial, and residential markets. With an in-house logistics team and remarkably responsive support staff, Heliene delivers competitively priced, high performance solar modules precisely when and where customers need them to accelerate North America’s clean energy transition. Founded in 2010, Heliene consistently ranks as a highly bankable module manufacturer and has production facilities located in Canada, and the USA. For more information, visit www.heliene.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220912005852/en/

Contacts

Heliene Inc.
Martin Pochtaruk, President
mpochtaruk@heliene.com
705.575.6556 ext. 151