Ferroglobe and LONGi Announce Long-term Silicon Supply Agreement

LONDON, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe”, the “Company,” or the “Parent”), a leading global producer of silicon metal, silicon-based and manganese-based ferroalloys, and LONGi, the world’s leading solar technology company, are pleased to announce that they have entered into a long-term supply agreement effective January 1, 2024.

This agreement reinforces the partnership between the two companies and paves the way for even closer collaboration in the future. Under the terms of the three-year agreement, Ferroglobe will supply high-quality quartz and silicon to LONGi to support its strategy to increase purchases from the leading Western suppliers of silicon materials.

This strategic partnership reflects the two companies' shared commitment in their respective fields to operational excellence and traceability ranging from quartz to solar panels.

LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation and under its mission of 'making the best of solar energy to build a green world'.

About Ferroglobe

Ferroglobe is a leading global producer of silicon metal, silicon-based and manganese-based ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit .

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “target”, “will” and words of similar meaning or the negative thereof.

Forward-looking statements contained in this press release are based on information currently available to the Company and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control.

Forward-looking financial information and other metrics presented herein represent the Company’s goals and are not intended as guidance or projections for the periods referenced herein or any future periods.

All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release.

INVESTOR CONTACT:

Alex Rotonen, CFA

Vice President, Investor Relations 

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MEDIA CONTACT:

Cristina Feliu Roig

Executive Director, Communications & Public Affairs

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