Homerun amends offtake deal with Sengi

Executive Summary

• Homerun Resources Inc. has signed an amendment to its non-binding offtake agreement with Sengi Solar, significantly increasing the minimum annual offtake quantity from 20,000 tonnes to 100,000 tonnes of solar glass.
• The price per tonne remains fixed at USD 750 (free on board at the plant in Belmonte, Bahia, Brazil).
• The amendment reflects rising demand for domestic solar production in Brazil, driven by import tariffs and increased interest in clean energy for AI data centers.

Key Details

• Counterparty: Sengi Solar Importacao e Exportacao Industria e Comercio.
• Agreement Type: Amendment to a non-binding offtake agreement (originally signed Feb. 4, 2025).
• Quantity Increase: Minimum annual offtake increased from 20,000 tonnes to 100,000 tonnes.
• Pricing: USD 750 per tonne, free on board (FOB) at the plant in Belmonte, Bahia, Brazil.
• Market Context: The increase aligns with rising tariffs on imports and reduced tariff exemptions for imported equipment in Brazil, as well as growing demand for clean energy to support AI processing data centers.
• Strategic Context: The amendment demonstrates partner confidence in the viability of Homerun’s solar glass manufacturing plant, which is designed to produce 1,000 tonnes per day of high-efficiency, antimony-free solar glass.

Notable Quotes

• "Homerun has completed a number of key deliverables since the signing of the original offtake agreement, which reassures partners like Sengi, regarding the importance and viability of our project. Signing this amendment reflects increasing demand for domestic solar production in Brazil and offtake partner confidence that our solar glass manufacturing plant is headed to success," stated Armando Farhate, chief operating officer of Homerun.