On 22nd Feb 2024, TOYO SOLAR, subsidiary solar cell company of VSUN SOLAR, has signed a long-term strategic supply agreement with leading South Korean-owned polysilicon producer OCI Company Ltd. at the Headquarter of TOYO SOLAR in Vietnam.

Under the terms of the agreement, OCI will supply TOYO SOLAR with low-carbon silicon materials adhering to international standard. This strategic alliance aims to ensure the long-term stability and reliability of VSUN's silicon raw materials, empowering VSUN to seize opportunities in the growing photovoltaic market. The partnership also supports VSUN's strategic goal of vertical integration across its global supply chain, bolstering its competitiveness in the international market.

Lewis Cai, CEO of VSUN SOLAR, said “The partnership with OCI safeguards the stable supply of critical raw materials along VSUN's production chain. This crucial alliance is a testament to VSUN's commitment to maintaining a resilient and robust supply chain. this collaboration ensures that VSUN remains agile and capable, consistently delivering high-quality products. Our future with OCI is one of close collaboration, and we believe the strategic value of today's agreement will capture the attention and anticipation of industry observers. "

About OCI

OCI Company Ltd., one of the world’s foremost leaders in polysilicon production, is a South Korea-based company specialized in the chemical industry. Its key products include semiconductor/solar-grade polysilicon, high-purity phosphoric acid, hydrogen peroxide for semiconductor manufacturing process, chlor alkali, pitch and carbon black. Based on its accumulated expertise and advanced technology in basic chemical and carbon chemical industry, OCI is expanding to the fields of semiconductor materials and secondary battery materials.