Company Profile For Renewable Energy Corporation ASA

Renewable Energy Corporation ASA (REC) is a Norway-based company engaged in the solar energy industry. REC produces silicon materials for photovoltaic (PV) applications and multicrystalline wafers, as well as solar cells and modules. The Company's business activities are organized in three divisions: REC Silicon, REC Wafer and REC Solar. REC Silicon produces polysilicon materials mainly for the PV industry, but also for a limited number of electronics customers. REC Wafer manufactures multi- and monocrystalline wafers for the PV industry. REC Solar provides solar cells and solar modules. The Company’s operations are principally carried out in six direct and indirect subsidiaries, including REC Solar Grade Silicon LLC and REC Advanced Silicon Materials LLC in the United States; REC ScanWafer AS, REC SiTech AS and REC ScanCell AS in Norway; REC ScanModule AB in Sweden, and a 33.3%-owned joint venture Sovello AG, formerly EverQ GmbH, in Germany.

BRIEF: For the nine months ended 30 September 2009, RenewableEnergy Corporation ASA's revenue increased 12% to NOK6.48B. Net loss for the period totaled NOK1.3B, vs. a net profit of NOK1.95B. Revenue reflects higher sales from the Silicon, Wafer business segments. Net loss for the period reflects an increase in depreciation charges and an increase in amortization charges, as well as a decrease in financial income.