Homerun Resources Inc. Announces Five-Fold Increase in Solar Glass Offtake with Sengi Solar from 20,000 to 100,000 Tonnes per Year Priced at USD 750 per Tonne
Massive Offtake Expansion De-Risks Industrial Scaling While Capex Funding Gap Remains
Homerun Resources Inc. (HMR) has announced a significant amendment to its offtake agreement with Sengi Solar. The annual minimum purchase quantity has increased five-fold, from 20,000 tonnes to 100,000 tonnes of solar glass. The pricing is fixed at USD $750 per tonne, Free on Board (FOB) at the company’s planned plant in Belmonte, Bahia, Brazil. Management attributes this increase to rising Brazilian import tariffs on solar modules and growing confidence in the domestic supply chain. This announcement follows an LOI signed on January 21, 2026, with Germany’s SORG Group to build the 1,000 tonne-per-day (tpd) antimony-free solar glass plant.
The impact is materially positive for the company’s "bankability" but carries significant execution risk. - Revenue Potential: At 100,000 tonnes per year and USD $750/tonne, this single offtake agreement represents USD $75,000,000 in potential annual gross revenue. - Capacity Utilization: A 1,000 tpd plant (365,000 tpy capacity) now has approximately 27% of its total output committed to one buyer. Combined with previous non-binding agreements (Brasil Fotovoltaico for 180,000 tonnes and Balfar Solar for 100,000 tonnes), the company claims commitments exceeding its initial 1,000 tpd plant capacity. - Validation: The expansion suggests that Sengi Solar, a major Brazilian manufacturer, views HMR’s progress with SORG Group and the Santa Maria Eterna (SME) silica resource as credible. - Critical Caveat: These remain offtake agreements for a facility that is not yet built. The "Materiality" is contingent on HMR securing the estimated €150 million (USD ~$163M) required for plant construction.
Homerun Resources is a vertically integrated developer focusing on high-purity silica (SME District, Brazil) and its transformation into solar glass and energy storage materials. - Flagship Project: The Santa Maria Eterna (SME) Silica Sand District in Bahia, Brazil. - Resource: A Maiden Mineral Resource Estimate (MRE) shows 25.56 Mt Measured and 38.35 Mt Inferred at 99.6% SiO2. - Infrastructure: The company has secured 99-year surface rights for 64 hectares and has significant municipal and federal support in Brazil for road and gas infrastructure.