News from CPS
Stay in the loop with the latest industry news, company updates, and more.
Company Updates
CPS provides Update and announces US Plans and potential Strategic Partner
November 4, 2024
CPS is pleased to provide an operational update and announce US facility plans and a potential strategic partner.
- The Company is advancing all elements of the $272 million indications of financial support with the Province of Manitoba and Government of Canada.
- In response to market needs, CPS has selected a US site where it will re-purpose a former glass manufacturing facility to produce 4GW of solar glass.
- The Company is advancing discussions with a potential strategic glass manufacturing partner to jointly develop the site.
CPS announces CFO transition
September 27, 2024
CPS announces that Cam Deller will be leaving the Company to accept a new opportunity. CPS is pleased to announce the appointment of Isha Kular as CFO effective October 3, 2024. Ms. Kular returns to CPS from her previous role as Corporate Controller between 2019 and 2020.
CPS announces federal and provincial support of up to $272 million
September 17, 2024
CPS announces that the Province of Manitoba and the Government of Canada intend to support the Company’s integrated patterned solar glass manufacturing facility in Selkirk, Manitoba with up to $272 million in financial assistance.
CPS extends warrants
August 23, 2024
CPS extends 26.5 million outstanding warrants expiration by 4 months to December 31, 2024. This gives warrant holders additional time to exercise warrants as the Company remains engaged with the Province of Manitoba and the Government of Canada to progress potential financial incentive packages.
CPS announces Q3 financial results
August 22, 2024
“We look forward to securing financial incentive packages from the Governments of Canada and Manitoba that will enable the Company to move rapidly towards a successful financing of the Project. The demand for patterned solar glass in North America continues to accelerate with visibility for upwards of 65GW of demand by 2030 which represents a 500% increase from current levels. We remain focused on establishing North America’s first source of patterned solar glass and to facilitating our customers’ stated goal of securing a low-risk and low-carbon solar energy supply chain”, stated Company President & CEO, Glenn Leroux.
CPS acknowledges government support from Province of Manitoba
February 14, 2024
At a press conference held in Selkirk, Manitoba the Manitoba government announced that it is moving forward with its support for the Company’s integrated solar glass manufacturing facility to be constructed in Selkirk using low-iron silica sand extracted near Hollow Water First Nation.
CPS announces 2023 fiscal year-end results
December 14, 2023
The Company devoted its time and resources during the financial year ended September 30, 2023, investing $7.2 million to achieve “shovel ready” status for its patterned solar glass manufacturing facility in Selkirk, Manitoba
CPS announces warrant exercise and Convertible Debt Extension
December 11, 2023
The Company’s insiders, including board members and management, as well as certain key strategic investors have exercised common share purchase warrants, at an exercise price of $0.40 per warrant, resulting in cash proceeds to CPS of $1.9 million.
Additionally, the Company has reached an agreement with the holders of its outstanding convertible debentures to extend the maturity date by one year from February 26, 2024 to February 26, 2025. All holders of the convertible debentures are insiders or key strategic investors in the Company.
CPS announces receipt of final environmental permit
August 2, 2023
CPS is please to announce the receipt of the final environmental permit required to construct its glass manufacturing facility.
In addition, CPS continues to prepare for the construction and operational phases of the project:
- Executed an agreement with MB Hydro to secure long-lead items
- Commenced further geotechnical work on the Selkirk site
- Completed an environmental assessment of the Selkirk site
- Started identifying candidates for key operational roles
- Commenced the development of standard operating procedures
- Continue to progress commercial offtake agreements with an objective of reaching 100% contracted status prior to construction.
Since Q1 2023, there have been several public announcements from solar panel manufacturers for new or expanded facilities. In aggregate, these new facilities represent an additional 29GW of potential incremental demand for patterned solar glass and bring the Company’s current estimate of market demand to over 100GW by 2027.
CPS announces achievement of several major milestones
May 11, 2023
CPS is pleased to announce achievement of several major milestones as the Company works towards building North America’s first integrated patterned solar glass manufacturing facility.
- Three binding commercial off-take agreements have been signed as well as multiple MOU’s have been signed
- Pre-construction engineering and design is complete and a turn-key EPC agreement has been signed
- Environmental Act License issued by the province of Manitoba to CPS to construct and operate a patterned solar glass manufacturing facility
- Vice President, Glass Operations appointed and board of directors enhanced with solar energy industry expertise
- Formal financing process initiated with Fort Capital Partners and Peters & Co. Limited engaged as co-financial advisors
CPS announces positive sand test results and provides operational update
January 31, 2023
CPS has completed a comprehensive, large scale testing procedure that verifies a simple mechanical treatment process utilizing low-cost environmentally responsible process methodology required to produce solar glass grade silica sand.
Additionally, CPS has executed preliminary commercial agreements with prospective customers for solar glass demand indications well in excess of 1,000 tonnes per day and is now allocating its production capacity to these prospective customers through formal offtake agreements with binding commercial terms.
In response to the strong interest, CPS is proceeding with pre-construction design of a solar glass facility that is larger than the 550 tonnes per day facility outlined in the Company’s FEED study.
“…We remain on track to bring our solar glass manufacturing project to shovel-ready status by the end of Q1 2023.” Glenn Leroux.
CPS engages world-class EPC consortium
September 19, 2022
CPS is pleased to announce that it has engaged an international consortium of Engineering, Procurement and Construction (EPC) firms to complete detailed design and pre-construction engineering.
The consortium is made up of Henry F Teichmann (HFT), Fives Group, Bottero S.p.A., Elrus Aggregate Systems and PCL Constructors Inc.
Due to strong expressions of interest received from customers to date, the Company is investigating the opportunity to increase the solar glass production of Phase 1 over that contemplated in the FEED study.
CPS Executes Memorandum of Understanding with Heliene Inc. for Patterned Solar Glass
September 12, 2022
CPS is pleased to announce that it has entered into a memorandum of understanding (MOU) with Heliene Inc. concerning discussions with respect to a definitive commercial offtake agreement.
The MOU with Heliene compliments the July 21st, 2022, announcement that CPS executed a MOU with Hanwha Solutions Corporation. Anticipated glass demand from both parties would represent in excess of 120% of our production capability for Phase 1 of our facility.
CPS President & CEO Joins BNN Bloomberg to talk about Company’s Plans
September 08, 2022
Glenn Leroux, president and CEO of Canadian Premium Sand, joins BNN Bloomberg to discuss how the company is scaling solar glass manufacturing with its investment in a facility in Manitoba. He says the U.S. Inflation Reduction Act is incentivizing customers to invest in clean energy and that Canada should support the solar industry in similar fashion.
CPS Announces Agreement to Purchase Land for Solar Glass Facility
September 07, 2022
CPS is pleased to announce that it has entered into an Option to Purchase Agreement with the City of Selkirk for 121 acres of land zoned for heavy industrial purposes, located northwest of the intersection of Manitoba Highways 4 and 9A.
CPS Announces Close of Upsized Financings of $9.6 million
August 31, 2022
CPS is pleased to announce that it has closed its previously announced brokered and concurrent non-brokered private placements, pursuant to which the Company issued an aggregate of 32,100,000 units of the Company at a price of $0.30 per Unit for gross proceeds to the Company of $9,630,000.
Management and directors of CPS, as well as certain of the Company’s largest shareholders, including Paramount Resources Ltd. and David J. Wilson, subscribed for approximately 50% of the Offering, to maintain their current ownership position in the Company.
The net proceeds of the Offerings will be used to advance the Company’s vertically integrated patterned solar glass manufacturing facility to a shovel-ready state, such that it is ready to commence construction by Q1 2023.
CPS launches $8 million equity financing
July 27, 2022
CPS is pleased to announce the launch of an $8 Million equity financing to advance plans to construct North America’s only vertically integrated patterned solar glass manufacturing facility. It has entered into an agreement with Peters & Co. Limited and Fort Capital Partners in connection with a best efforts private placement financing of up to 27,000,000 units of the Company at a price of $0.30 per unit. Each unit will consist of one common share and one common share purchase warrant.
CPS executes Memorandum of Understanding with Hanwha Solutions
July 21, 2022
CPS is pleased to announce has entered into an MOU with Hanwha Solutions concerning continued discussions between CPS and Hanwha with respect to a definitive commercial offtake agreement for patterned solar glass. Hanwha comments “As Qcells expands its manufacturing footprint in North America, we see tremendous value in securing supply from a trusted partner that is proximal to our operations.”
CPS continues to advance its patterned solar glass project to ‘shovel ready status’
June 13, 2022
CPS is pleased to report the results from its Front End Engineering and Design (“FEED”) study and the receipt of a market report confirming the economic viability of manufacturing patterned solar glass at a site identified in Selkirk, Manitoba.
CPS comments on Recent U.S. Government Policy Announcement
June 07, 2022
The Biden administration announced yesterday that any potential tariffs on solar panel imports from four Southeast Asian nations currently under investigation by the Department of Commerce will be waived for two years in order to maintain near-term solar panel installation growth.
Simultaneously, the Defense Production Act will be invoked to spur domestic solar panel manufacturing in order to foster a North American supply chain that can accommodate the continent’s longer-term demand profile without being dependent on traditional Asia-Pacific sources.
CPS adds Glass Industry Veterans to its Team
April 19, 2022
The Company has engaged Green City Glass LLC to be its client technical representative. The principals of Green City Glass have over 80 years of glass manufacturing experience, with each having deep expertise in facility design, construction, operations and maintenance.
CPS Selected to Participate in an Exclusive Investor Conference in Dubai
March 17, 2022
The Company will be presenting its investment-ready project to senior executives at key sovereign wealth funds and offices that represent over $1 trillion of assets under management.
See Dubai Presentation in Investor Resources.
Glenn Leroux, President & CEO interviewed by BNN Bloomberg
February 17, 2022
Glenn Leroux was hosted by Andrew Bell for the Commodities segment on BNN Bloomberg.
CPS engages Fort Capital and Peters & Co. as Financial Advisors
February 16, 2022
CPS is pleased to announce the initiation of a formal process to raise external capital to fund the development and construction of North America’s only patterned solar glass manufacturing facility, supported by recently completed Front End Engineering and Design (FEED) study.
CPS Selects Selkirk, Manitoba For Its Solar Glass Manufacturing Facility
December 09, 2021
CPS announces that it has chosen the City of Selkirk as the preferred location for its manufacturing facility.
CPS Announces Focus on Solar Glass
October 18, 2021
CPS announces decision to focus on solar glass manufacturing supported by market analysis and Technical Report.
CPS Appoints CFO and Adds Glass Expertise
August 17, 2021
CPS announces appointment of Cam Deller as CFO and Patrick Kenny as Industry Advisor.
CPS Announces Unsolicited U.S. Institution Investment
July 22, 2021
CPS announces closing of unsolicited U.S. $1 Million Private Placement from a US based Institution – Equinox Partners LP.
CPS Announces Upsized Financing
June 15, 2021
CPS announces, that due to investor interest, it has closed an upsized private placement raising gross proceeds of $5.2 million.
Interview with NGA
April 23, 2021
Our team sits down with National Glass Association (NGA) to talk about glass industry and what our project means for Canada and North America.
Video Interview with Glass Canada
April 19, 2021
Our President & CEO sits down with Glass Canada’s Patrick Flannery to talk about our company, our vision and what’s next.
TopGlass Conference & Our Virtual Booth
April 16, 2021
We are excited to be a part of the Top Glass 2021 virtual conference this year. Register for the conference for free and come check out our virtual booth on April 21, 2021.
GlassOnline profile on CPS
April 08, 2021
An in-depth profile on CPS by GlassOnline that highlights the main value proposition as well as talks about the larger vision for a center of excellence focused on glass and silica.
CPS Announces Focus on Sustainable Glass Manufacturing
February 03, 2021
CPS announces a shift in business strategy to focus on Sustainable Glass Manufacturing.
Industry News
U.S. invests in Qcells Manufacturing Facility
August 8, 2024
U.S. Department of Energy’s (DOE) Loan Programs Office (LPO), announced a conditional commitment for a loan guarantee of up to $1.45 billion to support Qcells’ highly anticipated solar supply chain manufacturing facility in Cartersville, Georgia.
Upon finalization, the Loan Programs Office, a premier public financing partner for high-impact, large-scale energy infrastructure projects in the U.S., would support Qcells, a global leader in complete clean energy solutions and the largest silicon-based solar panel manufacturer of its kind in the Western Hemisphere, as it pursues the construction of a facility that will manufacture the full solar supply chain.
Heliene announces U.S. Cell manufacturing facility and strategic partnership
July 26, 2024
Canadian solar manufacturer Heliene and Indian solar cell producer Premier Energies have formed a joint venture (JV) to build a 1GW solar cell production facility in the US.
The site will produce n-type cells to support both manufacturers’ US cell requirements, Heliene said in a public statement. Details about the timeline and scope of the project will be released “shortly”.
Meyer Burger makes progress in relocating to U.S.
June 25, 2024
Highlights:
- Ramp-up of solar module production in Goodyear, Arizona, begins following successful factory audit.
- Strategic partnership with leading U.S. technology group to expand activities in the USA in the pipeline.
- Fourth long-term offtake agreement signed with a new major customer for a total volume of 1.75 gigawatts over three years with an option to extend for a further two years.
- Financing of solar cell plant in Colorado making progress, completion of 45X financing targeted by mid-third quarter.
Meyer Burger to focus on U.S. module manufacturing
January 17, 2024
Meyer Burger has prepared a plan to cut losses in Europe and focus on profitable growth in the U.S.
“In the current environment, the U.S. remains by far the most attractive market for local solar manufacturers. The U.S. market has proven conducive to a thriving domestic solar industry, which benefits from a stable cost base, fixed purchase agreements and attractive price levels. Governmental support schemes, such as the Inflation Reduction Act (IRA), further add to the existing market potential.”
Microsoft, Qcells strike massive supply deal for US-made solar panels
January 8, 2024
Qcells will supply Microsoft with 12GW of U.S. made solar panels between now and 2032. The deal will help Microsoft reach its goal of powering its operations with 100% renewable energy by 2025.
US Solar Industry expected to grow 55% in 2023
December 7, 2023
Solar Energy Industries Association reported that Wood Mackenzie forecasts the U.S. solar industry to grow 55% in 2023.
Solar accounted for 48% of all new electricity-generating capacity added to the US grid through the first three quarters of 2023
U.S. Solar Manufacturing Industry sees major announcements for new facilities
August 2, 2023
Heliene plans to manufacture 1 GW solar modules, 1.5 GW solar cells in the U.S.
Meyer Burger announces solar cell production facility in Colorado
Enel chooses Oklahoma to invest over $1bln in solar factory
Vikram Solar announces $1.5 billion vertically integrated factory
Canadian Solar announces module manufacturing facility in Texas
Hanwha and Enel make major announcements for boosting Solar Panel Manufacturing in the U.S.
January 11, 2023
North American Glass Industry Outlook 2023
January 6, 2023
The National Glass Association (NGA) summarizes the state of the flat glass industry in North America, the impact of inflation to the industry and highlights CPS plans for entering the market.
Recent Industry Announcements could make Manitoba a Key Manufacturing Hub
September 20, 2022
Manitoba is positioning itself as a prime location to bolster North American solar manufacturing capacity.
CPS glass manufacturing plant could meet North America’s growing demand for patterned glass while helping the solar supply chain take root in Canada.
It could support the development of a low-carbon domestic solar supply chain and Canada’s transition to net-zero emissions. It could also open up future opportunities for complementary businesses, job creation, and economic growth.
U.S. Solar Installs to get 40% boost from Climate Law
September 08, 2022
“The Inflation Reduction Act is going to transform America’s energy economy, and the forecasts show a wave of clean energy and manufacturing investments.” – Abigail Ross Hopper, President & CEO of Solar Energy Industry Association (SEIA).
Clean-energy developers are forecast to install more than 215 gigawatts of solar panels during the next five years, according to a report published Thursday from the SEIA and Wood Mackenzie. That’s 40% more than the Washington-based trade group expected without the Inflation Reduction Act, the climate-friendly bill signed into law last month.
U.S. Senate passes “boldest climate package in History”
August 08, 2022
“The solar industry has set a goal to account for 30% of all U.S. electricity generation by 2030, and this legislation will be a catalyst for reaching that target. Now the work can begin to build out America’s clean energy economy with historic deployment, domestic manufacturing, investments in low-income communities, energy storage, smoother interconnection, and so much more.” – Abigail Ross Hopper, President & CEO of Solar Energy Industry Association.
The Inflation Reduction Act of 2022 passed in the Senate yesterday in 50-50 split with VP Kamala Harris casting the deciding vote.
Qcells to secure solar glass from CPS for its U.S. manufacturing operation
July 22, 2022
Canadian Premium Sand and Hanwha sign agreement for patterned solar glass manufactured in Manitoba.
Hanwha, parent corporation of Qcells, is establishing a domestic, low-carbon solar supply chain to support its solar energy growth strategy in North America, where it is constructing a manufacturing facility in Georgia to nearly double its total U.S. production capacity to over 3 GW. In keeping with its intent to source low-carbon products domestically, the company has signed an agreement to source solar glass from Canadian Premium Sand (CPS).
U.S. to waive tariffs on imports of solar panels and drive domestic manufacturing through Defense Act
June 06, 2022
The U.S. waived tariffs on solar panels from four Southeast Asian nations for two years and invoked the Defense Production Act to spur solar panel manufacturing at home.
The Chief Executive of the American Clean Power Association said the announcement would “rejuvenate the construction and domestic manufacturing of solar power by restoring predictability and business certainty.”
Solar expected to be largest source of U.S. new utility generating capacity in 2022
January 10, 2022
The U.S. Energy Information Administration (EIA) expects 46.1 GW of new utility-scale electric generating capacity to be added to the U.S. power grid in 2022. Nearly half (46%) of which will be solar.
Chinese Solar Glass company buys quartz sand resource for $570 million USD
October 28, 2021
Flat Glass Group (FGG), a Chinese solar glass manufacturer, paid USD $570 million for two quartz sand mines (58.3 million tonnes) to secure supply for its solar glass product.
“The company’s market capitalization on the Hong Kong exchange rose 5.7% after announcing the transaction.”
U.S. Solar Industry Association Releases New Target for a Solar+ Decade
September 17, 2021
Annual solar installations in the U.S. are expected to grow from 25GW in 2021 to 125GW by 2030.
“With bold policy action and continued private sector innovation, this ambitious 30% target is absolutely achievable.” – SEIA
U.S. DOE Releases Solar Energy Investment Brief
August 17, 2021
U.S. Department of Energy (DOE) releases a brief on Clean Energy Future discussing investment in solar research and deployment.
Amazon signs Renewable Agreement
June 23, 2021
Amazon signs agreement for 375MW solar farm project in Alberta. (Newswire)
Solar Industry Supply Challenges
May 4, 2021
Supply-chain headaches for everything from glass to shipping capacity are pinching the solar industry. (Bloomberg & Yahoo Finance)
U.S. Approves Massive Solar Project
May 03, 2021
U.S. has approved a major solar energy project in the California desert that will be capable of powering nearly 90,000 homes. (Reuters)
Canada’s Net-Zero 2050 Plan
April 30, 2021
Transition to a cleaner economy establishes a series of interim emissions reduction targets. (Government of Canada)
Glass Shortage for Solar Panels
November 04, 2020
A glass shortage threatens supply of solar panels needed for climate action. (Bloomberg)
Progress towards Canada’s emissions reduction target
2021
Canada’s plan for targeting emissions from buildings to achieve Paris Targets. (Government of Canada)
