Homerun Resources Inc. Announces Receipt of Budgetary Offer for Latin America’s First Dedicated Solar Glass Manufacturing Facility

Vancouver, British Columbia–(Newsfile Corp. – October 3, 2024) – Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) (“Homerun” or the “Company”) is pleased to announce its plans and receipt of a Budgetary Offer to build Latin America’s first dedicated solar glass manufacturing facility with a production capacity of 1000 tonnes per day of low-iron solar glass. The Company has now received a 173 page Budgetary Offer from HORN Glass Industries AG, a leading global supplier of state-of-the-art glass production plants.

Key highlights of the proposed solar glass production facility include:

• CAPEX of EURO 151.5 million for Latin America’s First Solar Glass Manufacturing Facility
• Land, building, locally acquired ancillary equipment and assembly labor are to be added to this CAPEX to determine Total CAPEX
• Production of ultra-clear solar glass with low iron content, ideal for high-efficiency solar panels
• Large regenerative cross-fired glass melting furnace with advanced batch plant and cullet return system
• Modern distributor and forehearth systems for precise temperature control
• Advanced control and automation systems throughout the plant
• Designed for high energy efficiency and low emissions, with flue gas treatment systems
• Natural gas as primary fuel, with fuel oil backup capability

“This project represents a major vertical integration step in Homerun’s strategy to harness our high purity Belmonte silica sand to become a leader in the production of key materials for renewable energy from the first facility of its kind in Latin America,” said Brian Leeners, CEO of Homerun. “The proximity of Homerun’s high purity, low iron silica sand assets, and the recently announced logistics plan, along with the low CAPEX requirements for the HORN solar glass production facility should place the Company as a key supplier of solar glass to the rapidly growing solar energy industry supply chain in the Americas¹.”

The Company is currently evaluating potential sites for the facility in the area of Camacari in the State of Bahia, Brazil. Sites with full infrastructure, electric power, water, natural gas pipeline and proximity to the deep seaport of Aratu are currently being reviewed. Further details on project timelines, capital costs, and financing will be provided as plans are finalized.

Recent Government, Ministry and Stakeholder Meetings Discussing Support and the Economic Impact of Homerun’s Development Plans

The establishment of Homerun’s solar glass manufacturing facility in Bahia, Brazil marks a significant milestone in the State of Bahia’s economic development and energy transition efforts. Recent meetings with key government officials have demonstrated strong support for this initiative:

• Angelo Almeida, Secretary of State of Bahia for Economic Development, has expressed enthusiasm for the project’s potential to boost local industry and reduce dependence on imported solar glass.
• Luciano Giudice Torres, Superintendent of Investment Attraction and Fostering of Economic Development, and Paulo Henrique de Almeida, Director of the Economic Development Division, have been instrumental in facilitating discussions and providing guidance on investment opportunities in the region.
• Carlos Borel, President of CBPM (Companhia Baiana de Pesquisa Mineral), and Lorena Fraga, Chief of Staff at CBPM, have offered valuable insights into the available local mineral resources that will support the manufacturing process.

The Government of Bahia has demonstrated its commitment to fostering domestic industry and reducing reliance on Chinese imports². This aligns perfectly with Homerun’s vision to create a robust, local supply chain for the inputs of the energy transition.

“The transition to a low-carbon economy is practically impossible without the critical and strategic minerals that Brazil and Bahia possess. We have potential, diversity and demand. We are the artifices of the future. Towards this end, CBPM is in search of partnerships like the one endorsed with Homerun, committed to sustainability and the energy transition”, stated Carlos Borel, President of CBPM (Companhia Baiana de Pesquisa Mineral).

Armando Farhate, Chief Operating Officer for Homerun, stated, “The support we’ve received from the Bahia government has been exceptional. Their proactive approach and commitment to sustainable economic growth has been crucial in moving this project forward.”

This collaborative effort between Homerun and the Bahia government is poised to create significant economic opportunities, including job creation, skills development, and increased foreign investment in the region. By establishing the first solar glass manufacturing facility in Bahia, Homerun is not only contributing to Brazil’s renewable energy goals but also positioning the country as a leader in the global solar industry.

References:

1. https://wholesale.banking.societegenerale.com/en/news-insights/clients-successes/clients-successes-details/news/empowering-solar-energy-production-in-the-us/.
2. https://globalvoices.org/2024/06/05/with-the-reintroduction-of-import-taxes-on-chinese-solar-panels-brazil-hopes-to-develop-its-own-industry/#:~:text=Starting%20in%20January%20of%202024,tax%20on%20Chinese%20solar%20panels.

About HORN Glass Industries AG (https://www.hornglass.com/company/about-us)
HORN Glass Industries has more 140 years of history and experience, which enables the company to supply the highest quality products for the production of glass. HORN is the service provider for the realisation of customer visions and projects in the field of glass and supports its customers from planning through the implementation process to permanent production support on-site.

About Homerun Resources (https://homerunresources.com/)
Homerun is focused on the development of industrial materials and technologies that will contribute to meeting the world’s clean energy and climate goals. The Company is listed on the TSX Venture Exchange under the symbol HMR.

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225383