Homerun Resources Inc. Announces Offtake Agreement with Sengi Solar for the Supply of High-Quality Solar Glass

Vancouver, British Columbia–(Newsfile Corp. – February 10, 2025) – Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) (“Homerun” or the “Company”) is pleased to announce that the Company has signed a non-binding offtake agreement (the “Agreement”) with Sengi Solar Importação e Exportação Indústria e Comércio (“Sengi”).

Sengi is an established manufacturer of solar panels, with operations in the city of Cascavel, Parana, Brazil, and currently sources its solar glass needs through imports. Under the Terms of the Agreement, Homerun would supply, and Sengi would purchase, a minimum of 20,000 (twenty thousand) tons of solar glass per year, initiating on the start of production from the Homerun solar glass plant. Under the Agreement, the initial price for the Homerun solar glass is set at US$750 per tonne, Free on Board (FOB), which is in line with current market pricing for imported solar glass in Brazil. Detailed economic models produced in partnership with industry consultants and covering all inputs, has determined an all-in cost of goods of +/- US$400 per tonne for solar glass produced by Homerun in Brazil.

Everton Fardin, Operations Director at Sengi states: “As the largest solar module manufacturer in South America, we understand how strategic it is to strengthen the supply chain for this key product in the energy transition. Solar glass is the heaviest component of a module and the second most valuable, playing a crucial role in ensuring durability and reliability while enhancing optical properties that improve light capture and efficiency. Sourcing this component locally will significantly reduce lead times, logistical complexities, and transportation costs, providing greater supply chain stability and reducing carbon emissions associated with long-distance shipping. Homerun’s solid plans will bring significant benefits not only to Sengi but to the entire Brazilian industry, contributing to high-quality job creation, the industrial valorization of Brazil’s rich natural resources, and further enabling the production of photovoltaic modules in the Western Hemisphere.”

Recent changes to federal regulations are focused on building a competitive advantage from raw materials to solar module production for domestic companies with operations based in Brazil. This includes tariffs on importation and further tax and regulatory advantages geared toward domestic production. Brazil is currently manufacturing less than one GW of solar through annual domestic production. In 2024, Brazil exceeded 50 GW of installed solar capacity (according to data from the Brazilian PV association – ABSolar). With this achievement, Brazil joins five other countries – China, the United States, Germany, India, and Japan – in surpassing 50 GW of solar capacity. Solar now accounts for +20% of Brazil’s total power capacity, making it the country’s second-largest energy source. Brazil added 13 GW of new PV capacity from January to October of 2024. Multiple corporate initiatives have been announced recently to increase the production of solar modules in Brazil due to the scale of the market and the new domestic production advantage.

“Partnering with the one of the pioneers and largest current manufacturers in the photovoltaic industry in Brazil has an important symbolic meaning for Homerun. One of our key values is partnership where not only the active partners see the benefit, but the benefit is across the society and all of the stakeholders. We are proud to be an integral organization in the vertical re-industrialization of Brazil within the global energy transition,” stated Armando Farhate, COO of Homerun.

This Agreement, is another important element under Phase 3 of the Homerun Strategic Roadmap to a fully integrated materials company, scaling revenue across silica, advanced materials, solar and energy storage. This Agreement outlines the basic terms for the future supply arrangement between the parties and does not create any legal obligations or liabilities for either party. The parties agree that a binding agreement shall supersede this Agreement, once the Company’s planned solar glass plant in Brazil, reaches a Bankable Feasibility Study.

Reference: https://www.pv-magazine.com/2024/11/27/solar-hits-50-gw-milestone-in-brazil/

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Advanced Materials

• Operating through ownership and partnerships to control two of Brazil’s premier Silica Districts with in-place logistics.
• Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California – Davis.
• Developing silicon carbide and thermoelectric materials for next-generation battery solutions.

Energy Solutions

• Building Latin America’s first dedicated high-efficiency solar glass manufacturing facility (365,000t/yr capacity).
• Commercializing the integration of Perovskite PV on solar glass technology (PSC is at +25% solar efficiency and now commercializing globally as Tandem Solar).
• Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company’s high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company’s HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

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