Latest news with #LeeWoo-hyun
UPI
4 days ago
- Business
- UPI
Korea's OCI, Japan's Tokuyama build $435M polysilicon Malaysian factory
South Korean chemical giant OCI Holdings said Thursday that its subsidiary OCI TerraSus and Japan's Tokuyama would invest $435 million to build a semiconductor-grade polysilicon factory in Malaysia. Photo courtesy of OCI Holdings SEOUL, July 17 (UPI) -- South Korean chemical giant OCI Holdings said Thursday that its subsidiary OCI TerraSus and Japan's Tokuyama would invest $435 million to build a semiconductor-grade polysilicon factory in Malaysia. To that end, the two East Asian corporations set up a joint venture, named OCI Tokuyama Semiconductor Materials, or OSTM, which broke ground on a 32.7-acre site in Sarawak, East Malaysia, on Wednesday. Commercial operation is scheduled to start in 2029 with an annual capacity of 8,000 metric tons. TerraSus and Tokuyama will each hold a 50% stake in OSTM, which recently signed a 10-year power purchase agreement with a local energy company. Made from multiple small silicon crystals, polysilicon is widely used for such high-tech products as solar panels, flat-panel displays, automotive electronics, aerospace sensors and photonic devices. For semiconductors, an ultra-pure form of polysilicon is necessary, as even a very small amount of impurities can cause malfunctions. One of the most common purity descriptors for semiconductor-grade polysilicon is 9N, meaning 99.9999999% pure silicon. OCI said that the new Malaysian factory would undergo more extensive purification to achieve a purity level of 11N. "The semiconductor-grade polysilicon to be produced by OTSM is already drawing strong interest from major clients in Korea, Japan, and Taiwan," OCI Holdings Chairman Lee Woo-hyun said in a statement. "Working closely with Tokuyama and the Sarawak state, OCI Holdings will proactively respond to rising global semiconductor demand and continue strengthening our competitiveness in the semiconductor market," he added. OCI currently manufactures about 4,700 metric tons of semiconductor-grade polysilicon at its Korean plant. OCI and Tokuyama are major players in the sector, together with Wacker of Germany and Hemlock of the United States. According to consultancy Verified Market Reports, the semiconductor-grade polysilicon market was valued at $10.5 billion last year, and the size is projected to nearly double to $20.3 billion by 2023, with an annual growth rate of over 8%.
Korea Herald
20-03-2025
- Business
- Korea Herald
OCI Holdings to invest $265m in new Texas production plant
OCI Holdings, a South Korean chemical and renewable energy company, announced Thursday that it will build an independent solar cell production plant at its US subsidiary, Mission Solar Energy, in Texas. The $265 million facility is set to begin commercial production of 1 gigawatt cells in early 2026, with plans to expand to 2GW by the end of the year. The initiative aims to strengthen the company's competitiveness in the US market, as US tariff policies against China have raised market uncertainties. The project will establish a fully independent supply chain using OCI TerraSus polysilicon, which is produced in Malaysia with eco-friendly hydropower and complies with RE100 standards and the Uyghur Forced Labor Prevention Act. With the US facing a 90 percent solar cell supply shortage, OCI's production is expected to meet strong market demand. The facility will also benefit from Inflation Reduction Act incentives, including a $0.04 per watt Advanced Manufacturing Production Credit and a 10 percent Investment Tax Credit for projects using US-made components. 'This marks the beginning of US-produced solar cells made with OCI TerraSus polysilicon,' said Lee Woo-hyun, chairman of OCI Holdings. 'This project will further strengthen our US solar value chain.'
Korea Herald
24-02-2025
- Business
- Korea Herald
OCI Holdings partners with Arava Power to build 260MW solar farm in Texas
US Inflation Reduction Act, energy community bonus expected to return up to 40 percent of investment to involved companies OCI Holdings said Monday that its United States subsidiary OCI Energy has teamed up with Arava Power, an Israeli solar energy firm, to build a 260 megawatt solar power plant in Wharton County, Texas. According to the announcement, each side will contribute 50 percent into the project named Sun Roper, which is expected to begin construction later this year and be complete by the end of next year. The amount of the investment was not disclosed. The Sun Roper project will cover an area of about 6.93 million square meters and produce enough electricity to power approximately 60,000 households per day. OCI Holdings explained that the Sun Roper project is estimated to result in high profitability as it can receive up to 40 percent of its investment back. The US government's Inflation Reduction Act supports investment tax credits of about 30 percent with an added 10 percent expected from the energy community bonus. The Sun Roper project marks the latest collaboration between OCI Energy and Arava Power as they continue to build on a partnership that began when the former sold project Sun Ray, a 200 MW solar farm in Uvalde County, Texas, to the latter in 2021. 'OCI Energy has established itself as the leading solar power developer in Texas, currently holding a 15 percent market share,' said Lee Woo-hyun, chairman of OCI Holdings. 'This year, we plan to expand our solar business beyond Texas to create new revenue streams." OCI Energy has continued to invest in the North American utility-scale solar and energy storage system markets since 2011. The Korean energy company currently operates over 10 solar power and ESS project pipelines, which totals about 5.2 gigawatt in energy capacity.
