Solar Modules from China Face Even More Restrictions

U.S. Customs and Border Patrol restrictions will further increase demand for domestically produced cadmium telluride modules.

Vancouver, BC, Canada – TheNewswire – July 19, 2023 – First Tellurium Corp. (CSE:FTEL) (OTC:FSTTF) (the “Company” or “First Tellurium”), reports that, according to a recent article in PV Magazine, expanded restrictions on Chinese polysilicon solar modules by the U.S. Customs and Border Patrol may result in a near total ban on modules entering the U.S. from China. These restrictions will place even more pressure on domestic solar companies like First Solar, North America’s largest solar panel manufacturer which produces cadmium telluride modules rather than crystalline polysilicon.

The China-U.S. trade tensions continue to heat up. China recently announced it would restrict exports of gallium and germanium, both essential for production of semiconductors. The country has also warned it may ban the export of technology to make solar panels.

As reported by First Tellurium in February, CdTe panels have historically faced competition from Chinese-made silicon solar panels. However, Chinese solar companies have been connected to forced labor in the Xinjiang region, prompting the U.S. government to ban more than 1,000 shipments of solar energy components following a June, 2022 law banning imports from the solar manufacturing region.

“We’re approaching a critical phase in the domestic supply chain for cadmium telluride solar panels,” said First Tellurium President and CEO Tyrone Docherty. “Rapidly increasing demand, combined with import restrictions, have led First Solar to double its manufacturing capacity this year. Domestic supplies of tellurium will become even more critical.”

As a result of Chinese trade tensions and shortages of domestic critical metals, the Biden administration has instituted a stream of policies, particularly the US Inflation Reduction Act, to source solar components from North America and other “friendly” jurisdictions. Doubts persist, however, that the industry can move fast enough to manufacture a steady supply of components to meet the country’s clean energy goals. Wood Mackenzie expects the U.S. solar market to triple in size over the next five years, bringing total installed solar capacity to 378 GW by 2028.

Thin-film cadmium tellurium (CdTe) solar modules provide the smallest carbon footprint, lowest water use and shortest energy payback time of any current photovoltaic technology. They produce higher amounts of energy and are less expensive to manufacture than polysilicon. CdTe’s energy payback time of less than a year allows for faster carbon reductions without short-term energy deficits. Most utility-scale projects in the United States are powered by CdTe technology.

About First Tellurium Corp.

First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.

Our Klondike tellurium-gold property in Colorado and polymetallic Deer Horn Project in British Columbia anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration—generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to, and supports, the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium is listed on the Canadian Stock Exchange under the symbol “FTEL” and on the OTC under the symbol “FSTTF”. Further information about FTEL and its projects can be found on www.firsttellurium.com.

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.  These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control.  Readers should not place undue reliance on forward-looking statements.  Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.

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