
T1 Energy Take Steps to Bring Investment to G2_Austin Solar Cell Project
AUSTIN, Texas, May 15, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) ('T1,' 'T1 Energy,' or the 'Company') announced this morning that the Company has entered into a Heads of Agreement to pursue an investment in the planned G2_Austin 5 GW solar cell manufacturing facility. The non-binding agreement was signed this week at a ceremony in Riyadh hosted by the Saudi Ministry of Investment ('MISA') to commemorate the Trump administration's 'America First' program and the Kingdom's commitment to investing in critical U.S. energy infrastructure projects.
'We wish to extend our sincerest appreciation to the Saudi Ministry of Investment for hosting our delegation. We are honored to sign this landmark agreement which is intended to bring in strategic capital to support America's advanced manufacturing sector,' said Daniel Barcelo, T1's Chief Executive Officer and Chairman of the Board. 'The U.S. needs to establish a domestic solar manufacturing supply chain, and T1 is at the forefront of that mission with our world-class operating G1_Dallas facility and planned G2_Austin project. This agreement is a positive step towards an investment to accelerate our development plans and our strategy to become a U.S. solar energy leader built on domestic content and leading-edge technology.'
Representatives from T1 and our Saudi partner, Manaar Gulf Saudi Arabia Ltd., signed the agreement on May 13th at a ceremony in Riyadh welcoming a U.S. delegation from the Trump administration and U.S. industrial partners to the Kingdom. The event promoted Gulf Corporation Council investment in America to support the 'America First' agenda.
'T1 is grateful to be part of a larger conversation to reshore American manufacturing through cooperative efforts with our overseas industrial partners,' added Daniel Barcelo. 'With this agreement in place, our teams will be working to secure this capital and advance T1's mission to bring investment, jobs, and key supply chains to America. As this relationship develops, we are also pleased to examine complementary opportunities to invest in the Kingdom's solar manufacturing sector.'
About T1 Energy
T1 Energy Inc. (NYSE: TE) is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. In December 2024, T1 completed a transformative transaction, positioning the Company as one of the leading solar manufacturing companies in the United States, with a complementary solar and battery storage strategy. Based in the United States with plans to expand its operations in America, the Company is also exploring value optimization opportunities across its portfolio of assets in Europe.
To learn more about T1, please visit www.T1energy.com and follow us on social media.
Investor contact:
Jeffrey SpittelEVP, Investor Relations and Corporate Developmentjeffrey.spittel@T1energy.comTel: +1 409 599 5706
Media contact:
Russell GoldEVP, Strategic Communicationsrussell.gold@T1energy.comTel: +1 214 616 9715
Cautionary Statement Concerning Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to: a potential investment in G2 Austin; the Company's ability to bring in strategic capital to support America's advanced manufacturing sector; the Company being at the forefront of the development of domestic solar manufacturing supply chains; the Company's development plans and strategy to become a U.S. solar energy leader built on domestic content and leading-edge technology; the investment by the Gulf Corporation Council in America to support the 'America First' agenda; T1's participation in the reshoring of American manufacturing; the Company's mission to bring investment, jobs and key supply chains to America; and any complementary opportunities that T1 may explore with respect to investments in the Kingdom's solar manufacturing sector. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results, or achievements to be materially different from the Company's expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, those discussed under the caption 'Risk Factors' in (i) T1's annual report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the 'SEC') on March 31, 2025, as amended and supplemented by Amendment No. 1 on Form 10-K/A filed with the SEC on April 30, 2025, (ii) T1's post-effective Amendment No. 1 to the Registration Statement on Form S-3 filed with the SEC on January 4, 2024, and (iii) T1's Registration Statement on Form S-4 filed with the SEC on September 8, 2023 and subsequent amendments thereto filed on October 13, 2023, October 19, 2023 and October 31, 2023. All of the above referenced filings are available on the SEC's website at www.sec.gov. Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, all of which are expressly qualified by the statements in this section, whether as a result of new information, future events or otherwise, except as required by law.
T1 intends to use its website as a channel of distribution to disclose information which may be of interest or material to investors and to communicate with investors and the public. Such disclosures will be included on T1's website in the 'Investor Relations' section. T1, and its CEO and Chairman of the Board, Daniel Barcelo, also intend to use certain social media channels, including, but not limited to, X, LinkedIn and Instagram, as means of communicating with the public and investors about T1, its progress, products, and other matters. While not all the information that T1 or Daniel Barcelo post to their respective digital platforms may be deemed to be of a material nature, some information may be. As a result, T1 encourages investors and others interested to review the information that it and Daniel Barcelo posts and to monitor such portions of T1's website and social media channels on a regular basis, in addition to following T1's press releases, SEC filings, and public conference calls and webcasts. The contents of T1's website and its and Daniel Barcelo's social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
Union Pacific Sticks To Annual Outlook, Confirms Merger Talks With Norfolk Southern
Union Pacific Corp. (NYSE:) on Thursday reported better-than-expected second-quarter 2025 earnings and revenue, driven by volume growth, core pricing gains, and record operational productivity. The railroad posted net income of $1.9 billion, or $3.15 per diluted share, up from $1.7 billion, or $2.74 per share, in the year-ago quarter. Adjusted earnings per share came in at $3.03, excluding a $115 million deferred tax benefit and a $55 million crew staffing charge, topping the consensus estimate of $2.86 per share. Also Read: Revenue rose 2% year-over-year to $6.15 billion, surpassing the $6.10 billion estimate, as volume increased 4%, carloads revenue rose 4%, and freight revenue excluding fuel surcharges grew 6%. Operating income climbed 5% to $2.53 billion, and the reported operating ratio improved by 100 basis points to 59.0%. On an adjusted basis, the operating ratio stood at 58.1%, a 230-basis-point improvement from a year ago. View more earnings on UNP Union Pacific also reported improved efficiency metrics across its network. Freight car velocity rose 10%, locomotive productivity increased 5%, and workforce productivity jumped 9% to 1,124 car miles per employee. The average train length grew 2% to 9,689 feet. The company also noted improvements in injury and derailment rates. 'These results reflect the strong momentum we've built in delivering safe, reliable service,' CEO Jim Vena said in a statement. 'The foundation is built, we are growing with our customers, and we have strong momentum as we continue to maximize the value of our great franchise.' On July 16, the board approved a 3% increase in the quarterly dividend to $1.38 per share, payable Sept. 30, 2025, to shareholders of record as of Aug. 29. Outlook Union Pacific reaffirmed its full-year 2025 guidance, projecting earnings growth consistent with its long-term target of high-single to low-double-digit compound annual growth. The company maintained its $3.4 billion capital spending plan and $4.0 to $4.5 billion share repurchases. Merger Talks Separately, Union Pacific and Norfolk Southern (NYSE:NSC) confirmed they are in advanced discussions regarding a potential business combination. Both companies cautioned that there is no assurance a deal will be reached and said they do not plan to provide further updates unless required. Union Pacific is valued at about $140 billion, while Norfolk Southern is worth roughly $60 billion. The merger would create the nation's first coast-to-coast rail network, a move CEO Jim Vena says could improve service by reducing transfer delays. Price Action: At last check Thursday, UNP shares were trading lower by 3.03% to $224.00. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? UNION PACIFIC (UNP): Free Stock Analysis Report This article Union Pacific Sticks To Annual Outlook, Confirms Merger Talks With Norfolk Southern originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


UPI
17 minutes ago
- UPI
UnitedHealth Group says it's cooperating with DOJ Medicare probe
Attorney General Pam Bondi speaks during a press briefing in June. UnitedHealth said its facing an investigation from the Department of Justice about its Medicare billing practices. Photo by Yuri Gripas/UPI | License Photo July 24 (UPI) -- UnitedHealth Group said Thursday it is facing Department of Justice investigations over its Medicare billing practices. UnitedHealth Group said in a statement on its website that it reached out to the DOJ after seeing media reports about investigations into its Medicare program. "(UnitedHealth) has now begun complying with formal criminal and civil requests from the Department. The Company has full confidence in its practices and is committed to working cooperatively with the Department throughout this process," the statement said. The insurer said it's launching its own investigation. "To provide our stakeholders transparency and confidence (UnitedHealth) ... has proactively launched its own initiative to conduct third party reviews of policies, practices, and associated processes and performance metrics for risk assessment coding, managed care practices, and pharmacy services." The company told CNBC that it expects to complete that review near the end of the third quarter. The Wall Street Journal reported in May that the Justice Department is conducting a criminal investigation into UHC for Medicare fraud. The company said it stands "by the integrity of our Medicare Advantage program." The Journal reported in July that the DOJ interviewed doctors about UnitedHealth's practices and asked if they felt pressured to submit claims for certain conditions that bolstered payments from the Medicare Advantage program. "(UnitedHealth) is committed to maintaining the integrity of its business practices and serving as reliable stewards of American tax dollars," UnitedHealth said. This is just the latest setback for the country's largest health insurer. Shares are down more than 42%, its CEO Andrew Witty left the company in May, it suffered a ransomware attack in early 2024, and then CEO Brian Thompson was killed in December 2024 by alleged shooter Luigi Mangione, which sparked significant public outrage against the company.


The Hill
18 minutes ago
- The Hill
Trump administration cancels $5B loan guarantee for solar and wind power line
The Trump administration is canceling a nearly $5 billion dollar loan guarantee for a power line that would connect wind and solar power to the grid, marking the latest in a string of attacks on renewable energy by the administration. The Biden administration had previously offered a loan guarantee of up to $4.9 billion dollars for the Grain Belt Express Phase 1 project, a massive electric transmission project in Kansas and Missouri. 'After a thorough review of the project's financials, DOE found that the conditions necessary to issue the guarantee are unlikely to be met and it is not critical for the federal government to have a role in supporting this project,' the Department of Energy said in a written statement. 'To ensure more responsible stewardship of taxpayer resources, DOE has terminated its conditional commitment,' it added. Grain Belt Express indicated in a statement that it would continue with its efforts to build the massive power line, which would stretch across 800 miles and add 5,000 megawatts of power capacity, or enough to power 500 million LED lightbulbs. 'America is energy dominant and an AI powerhouse, and Grain Belt Express will be America's largest power pipeline,' the statement said. 'While we are disappointed about the LPO loan guarantee, a privately financed Grain Belt Express transmission superhighway will advance President Trump's agenda of American energy and technology dominance while delivering billions of dollars in energy cost savings, strengthening grid reliability and resiliency, and creating thousands of American jobs,' it added. The energy department's move comes after Sen. Josh Hawley (R-Mo.) repeatedly railed against the powerline. He took credit for canceling the loan, with his office saying the cancellation came after his request. 'The Grain Belt Express boondoggle loan has been CANCELLED,' he said in a post on X. However, Democrats on the Senate Energy and Natural Resources Committee criticized the cancellation in a post on X. 'The Grain Belt Express Transmission Line would increase grid reliability and reduce electricity prices for American families. It's EXACTLY the kind of project experts say we need to meet increasing demand. Hawley, Trump, and [Energy Secretary] Chris Wright just killed it, with zero justification,' said the committee Democrats, who are led by Sen. Martin Heinrich (N.M.). In its final weeks in office, the Biden administration pushed forward several loans for climate-friendly energy projects. The Trump administration says it is now reviewing $85 billion in closed loans and conditional commitments made by the Energy Department's Loan Programs Office between President Trump's election and his inauguration. The Trump administration is also seeking more broadly to drive the country away from solar and wind, climate-friendly energy sources that they argue are not sufficiently reliable. Trump's 'big, beautiful bill' slashes incentives for solar and wind. Separately, his Interior Department recently put out a memo that is expected to make it more difficult to advance and approve wind and solar projects.