Homerun Resources Inc. Announces Positive Bankable Feasibility Study on Solar Glass Manufacturing Plant in Brazil, Confirming Strong Economics and Strategic First-Mover Position in the Americas

On May 12, 2026, Homerun Resources announced the results of its Bankable Feasibility Study (BFS) for a 1,000 tonne-per-day solar glass manufacturing facility in Belmonte, Bahia, Brazil. The study was completed by DTEC PMP GmbH and confirms strong economics, with a base-case Net Present Value (NPV) of ~US$670 million and an Internal Rate of Return (IRR) of 20.2% at 100% production. The estimated initial capital expenditure is ~US$396.5 million, with a payback period of about 7.6 years. The plant will produce up to 288,300 tonnes per annum of antimony-free, patterned solar glass. The company currently holds Letters of Intent for ~380,000 tonnes per year, exceeding planned capacity. The next steps include an independent review of the financial model, utility contract negotiations, and moving toward a project start as early as November 2026, pending financing and approvals.

This BFS represents the single most critical de-risking milestone in Homerun’s history. It transforms the company’s flagship project from a conceptual vertically integrated “silica-to-solar” vision into a fully costed, engineering-backed, and financeable industrial plan. The headlining economic figures — a $670M NPV against a ~$396.5M CAPEX — are robust and validate the exceptional quality of the Belmonte silica sand resource. The 20.2% IRR is attractive for large-scale infrastructure, especially in an emerging solar market like Brazil’s.

The release of the BFS is a direct, positive response to previous forward-looking statements. The March 31, 2026, update indicated the BFS would be presented in late April 2026. The May 12 release confirms that handover occurred on schedule and that the results were strong. This is not a surprise event; the market has anticipated the BFS since DTEC was engaged in November 2025. However, the specific, bankable figures are genuinely new information that materially confirms the viability of the project. This eliminates a significant overhang of uncertainty regarding the project’s economics. It provides a concrete foundation for the next crucial step: securing the $396.5M project financing.

Compared to earlier, non-binding offtake agreements and MOU's, the BFS is a quantitative, independent validation. It provides the “blueprint” to convert 380,000 tonnes of potential demand into binding supply contracts and unlocks access to previously indicated government financing from BNDES/FINEP and German export-credit agencies. The news is material and positive, providing the first clear view into the scale of the business.

Homerun Resources is executing a vertically integrated clean-energy platform in Brazil. Its headquarters are in Canada, but its operations and future are anchored in the State of Bahia. The company controls the Santa Maria Eterna (SME) high-purity silica sand district. The flagship project is a planned 1,000-tonne-per-day antimony-free solar glass manufacturing plant in Belmonte. The project is designed to take low-iron silica sand from the company’s adjacent mine and convert it into premium solar glass for the rapidly growing Brazilian and international photovoltaic markets. A parallel, but separate, vertical focuses on perovskite solar modules and AI-driven energy management systems through its wholly-owned subsidiary, Homerun Energy. The company has also pursued advanced materials R&D (fused silica, silicon carbide) and thermal energy storage in partnership with NREL and UC Davis.