FTEL:CC - Solar Modules from China Face Even More Restrictions

(TheNewswire)

U.S. Customs and Border Patrolrestrictions will further increase demand for domestically producedcadmium telluride modules.

Vancouver, BC, Canada – TheNewswire - July 19, 2023 –First Tellurium Corp. (CSE: FTEL ) ( OTC: FSTTF ) (the“Company” or “First Tellurium”), reportsthat, according to a recent article in PV Magazine, expanded restrictions on Chinese polysiliconsolar modules by the U.S. Customs and Border Patrol may result in anear total ban on modules entering the U.S. from China. Theserestrictions will place even more pressure on domestic solar companieslike First Solar, North America’s largest solar panel manufacturerwhich produces cadmium telluride modules rather than crystallinepolysilicon.

The China-U.S. trade tensions continue to heat up.China recently announced itwould restrict exports of gallium and germanium, both essential forproduction of semiconductors. The country has also warned it may banthe export of technology to make solar panels.

As reported byFirst Tellurium in February, CdTe panels have historically facedcompetition from Chinese-made silicon solar panels. However, Chinesesolar companies have been connected to forced labor in the Xinjiangregion, prompting the U.S. government to ban more than 1,000 shipmentsof solar energy components following a June, 2022 law banning importsfrom the solar manufacturing region.

“We’re approaching a critical phase in the domesticsupply chain for cadmium telluride solar panels,” said FirstTellurium President and CEO Tyrone Docherty. “Rapidly increasingdemand, combined with import restrictions, have led First Solar todouble its manufacturing capacity this year. Domestic supplies oftellurium will become even more critical.”

As a result of Chinese trade tensions and shortages ofdomestic critical metals, the Biden administration has instituted astream of policies, particularly the US Inflation Reduction Act, tosource solar components from North America and other “friendly”jurisdictions. Doubts persist, however, that the industry can movefast enough to manufacture a steady supply of components to meet thecountry’s clean energy goals. Wood Mackenzie expects the U.S. solarmarket to triple in size over the next five years, bringing totalinstalled solar capacity to 378 GW by 2028.

Thin-film cadmium tellurium (CdTe) solar modulesprovide the smallest carbon footprint, lowest water use and shortestenergy payback time of any current photovoltaic technology. Theyproduce higher amounts of energy and are less expensive to manufacturethan polysilicon. CdTe's energy payback time of less than a yearallows for faster carbon reductions without short-term energydeficits. Most utility-scale projects in the United States are poweredby CdTe technology.

About First Tellurium Corp.

First Tellurium’s unique business model is togenerate revenue and value through mineral discovery, projectdevelopment, project generation and cooperative access to untappedmineral regions in Indigenous territory with sustainableexploration.

Our Klondike tellurium-gold property in Colorado andpolymetallic Deer Horn Project in British Columbia anchor a diversified search for metals,working in alliance with Indigenous peoples, NGOs, governments andleading metals buyers. This is the future of mineralexploration—generating revenue by exploring responsibly andleveraging diverse partnerships.

First Tellurium proudly adheres to, and supports, theprinciples and rights set out in the United Nations Declaration on theRights of Indigenous Peoples and in particular the fundamentalproposition of free, prior and informed consent. First Tellurium islisted on the Canadian Stock Exchange under the symbol “FTEL” andon the OTC under the symbol “FSTTF”. Further information aboutFTEL and its projects can be found on www.firsttellurium.com .

Neither theCanadian Securities Exchange nor its regulations services acceptresponsibility for the adequacy or accuracy of this release.

Forward-lookinginformation

All statements included in thispress release that address activities, events or developments that theCompany expects, believes or anticipates will or may occur in thefuture are forward-looking statements.  These forward-lookingstatements involve numerous assumptions made by the Company based onits experience, perception of historical trends, current conditions,expected future developments and other factors it believes areappropriate in the circumstances. In addition, these statementsinvolve substantial known and unknown risks and uncertainties thatcontribute to the possibility that the predictions, forecasts,projections and other forward-looking statements will proveinaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-lookingstatements.  Except as required by law, the Company does not intendto revise or update these forward-looking statements after the datehereof or revise them to reflect the occurrence of futureunanticipated event.

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