11:49 AM EDT, 10/15/2024 (MT Newswires) -- 5N Plus ( FPLSF ) on Tuesday said its subsidiary, AZUR SPACE Solar Power, completed its 2024 production capacity program ahead of schedule, expanding its capacity by 35% and beating its initial 30% increase target.

By the end of 2025, AZUR intends to increase its solar cell production capacity by another 30%, with minimal additional investments.

"The completion of this program and actions being taken to further increase capacity through next year will enable AZUR to meet the growing needs of our strategic client-partners, and to maintain its momentum in generating revenues and increased profitability," said Gervais Jacques, chief executive of 5N Plus ( FPLSF ). "Since becoming a 5N+ company in late 2021, AZUR has already significantly boosted sales compared to previous years, which reflects both sustained demand in the space sector and AZUR's leadership as a longstanding and sought-after provider of advanced solar cell technology."

5N Plus ( FPLSF ) shares were last seen up $0.19, to $7.00 on the Toronto Stock Exchange.

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