News - Norwegian Crystals AS - Private Placement - NOK 80 million
Arctic acted as Joint Lead Manager in relation to the Private Placement of NOK 80 million in Norwegian Crystals AS. The net proceeds from the Private Placement will be used to install pullers at the Company's production facility in Glomfjord in order to ramp up production. Norwegian Crystals is a leading western player in the fastest growing technology segment of the solar industry with a demonstrated ability to expand, develop and implement key process technology. The next step is to achieve world-class size and cost position by fully exploiting production site advantages & continue improvements at scale. This private placement is the first step in becoming the largest mono crystalline wafer producers outside China.