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U.S. Department of Energy Launches Consortium to Advance Cadmium Telluride Solar Cell Technology and Supply, The Canadian Business Journal

VANCOUVER, British Columbia, Canada, September 15, 2022 (GLOBE NEWSWIRE) — First Tellurium Corp. (CSE: FTELOTC FSTTFMore) (“Company” or “First Tellurium”) is a $20 million initiative designed by the U.S. Department of Energy (DOE) to make cadmium telluride (CdTe) solar cells cheaper and more efficient than tellurium It reports that the cadmium chloride accelerator consortium has been launched. The purpose of the consortium is to spur technological advances in CdTe manufacturing, make America more competitive, enhance domestic innovation, and facilitate the deployment of clean power. The initiative reinforces President Biden’s goal of achieving a net-zero economy by 2050.

“This news further supports our commitment to expanding and developing tellurium resources at the Deer Horn Project,” said Tyrone Docherty, President and CEO of First Tellurium. “The demand for tellurium continues to grow, not only for solar cells, but also for new battery technologies and other applications. The United States now imports 95% of his required tellurium.”

First Tellurium’s Deer Horn Property, located in West Central British Columbia, hosts one of the only silver-gold-tellurium properties in the world with an NI 43-101 compliant tellurium resource. The Company is also investigating the Klondike Tellurium gold deposit in Colorado. This is a high-grade tellurium deposit previously held by First Solar, Inc., one of the largest solar panel manufacturers in the world.

According to 360 Research, the CdTe solar cell market is expected to exceed $10 billion in 2027, more than double the nearly $4 billion of installed CdTe cells in 2021. The United States Geological Survey (USGS) says that about 40% of the tellurium in the United States will begin production of CdTe solar cells in 2021.

CdTe solar cells made from cadmium and tellurium were first developed in the United States. Today, it accounts for about 20% of the solar module market. It offers the lowest cost per watt technology, the fastest energy payback time, and the lowest carbon intensity in production.

“The major cadmium telluride producers, especially First Solar, will need new amounts of tellurium to meet their market needs,” Doucherty said. “According to the USGS, First Solar already consumes about 30% of the world’s tellurium production.”

First Solar, Inc. (Nasdaq: FSLR) will build its third and largest CdTe solar cell manufacturing facility in Ohio in August 2021.

A new 3.3 gigawatt (GW) DC plant, scheduled to come online in mid-2023, will require an investment of $680 million. Once fully operational, the company’s Ohio manufacturing footprint is expected to expand to a combined annual capacity of 6 GWDC, making it the largest fully vertically integrated solar manufacturing facility outside of China.

First Solar will also build a fourth domestic plant in the southeastern United States with an annual capacity of 3.5 GWDC. The company plans to invest up to $1 billion in the new plant, which is expected to begin operations in 2025, subject to permitting and approval of various federal, state, regional and local incentives.

According to the December 2021 report by S&P Global Market Intelligence: If the company hits its target, annual demand for the mineral could be up to 70% higher than last year’s estimated global production, according to data from a November report by researchers at the Autonomous University of Barcelona’s Institute of Environmental Science and Technology. increase. ”

Seeing a growing need for a domestic supply of tellurium, Rio Tinto decided to build a plant capable of recovering about 20 tons of this semiconductor semimetal as a by-product of copper produced at the Kennecott Mine in Utah. , invested about $2.9 million. First Solar has committed to purchase all tellurium produced at Kennecott.

“So many factors are aligning for a strong tellurium market going forward,” said Docherty. We are strategically placing them to meet that growing demand.”

Presented at the NAI 500 Resource Conference
First Tellurium also reports that it will be presenting at the NAI 500 GCFF Global Resource Investment Conference on September 24, 2022 at the Richmond Sheraton Hotel. The GCFF is pleased to announce its return to in-person attendance for the first time since the pandemic.

of FTELs New website, presentations and videos
We are also pleased to announce the launch of our new website. On this website you can find information about our company and properties. We also released a new animated pitch deck. You can see from here. This presentation provides an overview of our business and future opportunities. Finally, we also released a new instructional video. You can see from here. In this video, we’ll go into more detail about our properties and how they can help your first tellurium investor.

Abuout First tellurium company
First Tellurium’s unique business model is to generate revenue and value through cooperative access to undeveloped mineral areas of indigenous territories with mineral discovery, project development, project generation and sustainable exploration. .

Our polymetallic (tellurium, gold, silver, copper, tungsten) Deer Horn Project (British Columbia) and Klondike Tellurium-Gold (Colorado) properties work with indigenous peoples, NGOs, governments and major metal buyers. and supports a wide variety of metal searches. This is the future of mineral exploration. Generate revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to and upholds the principles and rights set forth in the United Nations Declaration on the Rights of Indigenous Peoples, in particular the fundamental proposition of free and prior informed consent.

On behalf of the Board of Directors
First tellurium company

“Tyrone Docherty”
Tyrone Docherty
Representative Director and President

For more information, please contact:

Tyrone Docherty
[email protected]

Neither the Canadian Stock Exchange nor its regulators are responsible for the adequacy or accuracy of this release.

Forward-Looking Information
All statements regarding activities contained in this press release are event Or, developments that we anticipate, believe or anticipate will occur or may occur in the future are forward-looking statements. These forward-looking statements are based on our experience, recognition of historical trends, current conditions, expected future developments and other factors that we contains a number of assumptions made by In addition, these statements involve known and unknown risks and uncertainties, projection and other forward-looking statements may prove to be inaccurate, some of which are beyond our control. Readers should not place undue reliance on forward-looking statements. Except as required by law, we do not intend to revise or update these forward-looking statements after the date hereof..

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U.S. Department of Energy Launches Consortium to Advance Cadmium Telluride Solar Cell Technology and Supply, The Canadian Business Journal

Source link U.S. Department of Energy Launches Consortium to Advance Cadmium Telluride Solar Cell Technology and Supply, The Canadian Business Journal

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