OCI Holdings, CubicPV ink long-term silicon supply deal

OCI Holdings Chairman Lee Woo-hyun, right, and CubicPV CEO Frank van Mierlo [Courtesy of OCI Holdings]

South Korea’s OCI Holdings Co. announced on Tuesday that its Malaysian subsidiary OCIM Sdn. Bhd. signed a long-term solar polysilicon supply agreement with CubicPV, a U.S.-based solar energy specialist.

Under the contract, OCIM will supply $1 billion worth of solar-grade polysilicon to CubicPV for eight years from 2025 until 2033. OCIM, which currently produces 35,000 tons annually of low-carbon solar-grade polysilicon in Malaysia, secured an additional stable sales outlet via the deal.

CubicPV, a solar startup in the United States, is in the process of building solar wafer production facilities in the country. The significance of this agreement lies in securing a stable supply of non-Chinese polysilicon for wafer production, a crucial component in forming the U.S. solar value chain, according to the company.

“Through the long-term supply agreement with OCIM, a leading global player in solar polysilicon production, CubicPV can focus more on enhancing production capabilities within United States,” CubicPV CEO Frank van Mierlo said.

“We aim to strengthen our leadership in the global solar polysilicon market by adapting resilient and efficient pricing and supply strategies that allow us to navigate the ever-evolving global landscape,” OCI Holdings Chairman Lee Woo-hyun added.