6N Silicon Secures up to $20 Million in Financing Led by Good Energies

MISSISSAUGA, Ontario, March 31 /PRNewswire/ -- 6N Silicon Inc., a supplier of true solar grade silicon for the photovoltaic industry, announced today that it has secured up to USD $20 million in second round financing. This investment round was led by Good Energies, a leading global investor in the renewable energy and energy efficiency industry. Both major investors from the company's first round of private financing, Ventures West Management and Yaletown Venture Partners, also participated. The investment will be used by the company to move into commercial production.

6N Silicon's goal is to be the lowest cost provider of solar grade silicon that does not require blending with high-purity silicon. 6N Silicon's primary differentiation is its unique process for upgrading standard metallurgical grade silicon into true solar grade silicon. With low capital equipment and production costs, the 6N process scales quickly and easily and features dramatically lower input energy requirements than conventional silicon purification processes.

"We are very excited that Good Energies, a proven investor in solar photovoltaics, has chosen to support our company," said Paolo Maccario, Chief Executive Officer of 6N Silicon. "Good Energies conducted a considerable amount of due diligence on our company and our process. This investment, therefore, is a significant endorsement by one of the industry's most respected investors, and is an important step towards achieving our goal of becoming a leading supplier of solar grade silicon within the next three to five years. We also sincerely appreciate the
ongoing commitment from our initial investors and we look forward to leveraging their collective support to achieve our near-term goals."

The global market for solar grade silicon feedstock in 2006 was approximately $2.3 billion and is projected to grow to $10.4 billion by 2010. In constant short supply, polysilicon is the largest single cost component of most solar modules.

"Through its extensive pilot production line activities, 6N Silicon has begun to deliver on the tremendous promise of its technology to produce true solar grade silicon at a lower cost and with lower environmental impact," said Richard Kauffman, CEO of Good Energies. "Good Energies has a long and successful track record of working with renewable energy and energy efficiency companies and helping them to meet their full growth potential. We look forward to working with 6N Silicon's management to help them achieve their goals and to establish new customer relationships by leveraging our solar industry expertise and our international network with
solar PV manufacturers."