Latest news with #T1Energy
Nikkei Asia
6 days ago
- Business
- Nikkei Asia
Chinese solar companies shrink US footprint as Trump cuts incentives
Energy Loss of tax credits 'a huge blow' despite growing demand for renewables An employee at Trina Solar plant in Jiangsu province, China. Trina sold its U.S. solar module facility in Texas to T1 Energy in December 2024. © AP PAK YIU NEW YORK -- Chinese solar companies are retreating from the U.S. as the Trump administration's massive tax-and-spending act ends incentives for projects tied to China. Two leading manufacturers, JA Solar and Trina Solar, have sold panel factories in the past seven months and other Chinese companies are assessing their presence in the world's second-largest energy consumer.
Yahoo
17-06-2025
- Business
- Yahoo
Yates to provide preconstruction services for T1's Texas solar cell facility
Energy solutions provider T1 Energy has appointed Yates Construction for preconstruction services and site preparations for its $850m G2_Austin 5GW solar cell facility in the US. The commissioners of Milam County, Texas, have unanimously voted to offer T1 Energy a long-term tax abatement package, contingent upon the company meeting or surpassing specific employment and investment benchmarks at the facility. The solar facility is anticipated to start production by the end of 2026 and generate up to 1,800 full-time jobs. G2_Austin is a component of T1 Energy's strategy to establish a domestic solar and battery supply chain. According to T1, this initiative aims to provide the US with 'scalable' and 'low-cost' energy solutions. The project is a response to the Trump Administration's tariffs and policies that support American advanced manufacturing, jobs, and energy dominance, stated the energy solutions supplier. T1 CEO and board chairman Daniel Barcelo said: 'Solar energy is a foundational part of American power grids. Our facilities will manufacture solar cells and modules to invigorate our economy with abundant energy. We're excited to work with Yates and Milam County to bring American advanced manufacturing to the heart of Texas and to unlock our most scalable energy resources'. In conjunction with the company's operational G1_Dallas 5GW solar module facility, T1 Energy plans to meet the increasing demand for US-made solar cells and modules, utilising advanced TOPCon technology. T1 Energy has engaged Yates to deliver preconstruction services for G2Austin and expects to finalise the commercial terms to confirm the company's appointment as general contractor for the project. Yates Construction joins SSOE Group, an architecture and engineering company that has been involved in project engineering for G2_Austin since December 2024. Yates Construction President and CEO William G Yates III said: "We look forward to working with T1 Energy and leveraging our extensive experience in advanced manufacturing facility construction. This is an exciting project, and Yates Construction is committed to being a collaborative partner throughout the execution of the project." "Yates to provide preconstruction services for T1's Texas solar cell facility" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
17-06-2025
- Business
- Yahoo
T1 Energy advances $850m solar cell facility development in US
T1 Energy has announced the next step in the development of its $850m G2_Austin 5GW solar cell facility with the selection of Yates Construction for preconstruction and site preparation services. The development of G2_Austin is integral to T1's broader strategy of establishing a domestic supply chain for solar and battery technology, enabling the US to access scaleable, dependable and cost-effective energy solutions. T1 intends to meet growing demand within the US market for solar cells and modules that utilise TOPCon technology through the G2_Austin, along with its operational counterpart, the G1_Dallas 5GW solar module facility. The project is facilitated by the tariffs and other policies implemented by the Trump administration, which support American advanced manufacturing, job creation and energy dominance. The Milam County commissioners in Texas have unanimously agreed to offer T1 Energy a substantial tax abatement package, contingent on the company achieving certain employment and investment milestones at the new facility. T1 CEO and board chairman Daniel Barcelo stated: 'Solar energy is a foundational part of American power grids. Our facilities will manufacture solar cells and modules to invigorate our economy with abundant energy. We're excited to work with Yates and Milam County to bring American advanced manufacturing to the heart of Texas and to unlock our most scalable energy resources.' Yates Construction's engagement extends beyond preconstruction duties as T1 Energy anticipates finalising terms with them as the general contractor. The company joins SSOE Group, which has been providing project engineering services for the project since December 2024. The G2_Austin facility will commence cell production by late 2026 and is expected to generate up to 1,800 full-time positions. Yates Construction president and CEO William G Yates III stated: 'We look forward to working with T1 Energy and leveraging our extensive experience in advanced manufacturing facility construction. "This is an exciting project, and Yates Construction is committed to being a collaborative partner throughout the execution of the project." In May 2025, T1 Energy entered into a heads of agreement with Saudi partner Manaar Gulf Saudi Arabia, to explore an investment in the proposed G2_Austin 5GW solar cell manufacturing facility. "T1 Energy advances $850m solar cell facility development in US" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Globe and Mail
15-05-2025
- Business
- Globe and Mail
T1 Energy Reports First Quarter 2025 Results
AUSTIN, Texas and NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) ('T1,' 'T1 Energy,' or the 'Company') reported financial and operating results for the first quarter 2025 today. Headlines T1 has signed 253 MW 2025 sales agreement with U.S. utility-scale developer. This sales agreement, which is the first new customer commitment the Company has signed as T1 Energy, underscores T1's commercial appeal to U.S. developer customers. With this sales agreement, T1 has now secured 1.75 GW of 2025 customer module sales and offtake commitments for G1 Dallas. Reducing 2025 guidance, maintaining integrated G1/G2 guidance. T1 is lowering its 2025 full-year EBITDA guidance to $25 - $50 million from a prior range of $75 - $125 million based on a reduced production forecast of 2.6 – 3.0 GW from a prior expectation of 3.4 GW. The reduction in 2025 guidance reflects T1's assumption of limited to no merchant sales from G1 Dallas during 2025 due to near-term trade policy uncertainties that are obscuring Bill of Materials cost visibility and creating a temporary lull in bidding activity, the elective conversion of three production lines from PERC to TOPCon technology, and a potential 800 MW inventory build. At the low-end of the updated EBITDA guidance range, T1 expects to exit 2025 with a cash and liquidity position of more than $100 million after approximately $70 million of cash debt service. There are no changes to T1's projected $650 - $700 million annual run-rate EBITDA estimate based on optimized production at G1 Dallas and G2 Austin. G1 Dallas revenues and production continue to ramp. Following the full handover of G1 Dallas to T1's operating team in April, the Company's U.S. module manufacturing facility has continued to ramp sales and production volumes. During Q1 2025, T1 generated $64.6 million of revenue from G1 Dallas exclusively associated with deliveries under the Trina offtake contract. During Q2 2025, deliveries under the RWE offtake contract have commenced. As of May 11 th, T1 had produced 690 MW of modules from G1. T1 has entered into a Heads of Agreement with a partner aligned with the Kingdom of Saudi Arabia to explore a potential investment in G2 Austin. T1 announced this morning that the Company has entered into a non-binding agreement to pursue an investment in the Company's planned G2 Austin U.S. solar cell manufacturing facility. The agreement was signed at a ceremony in Riyadh this week hosted by the Saudi Ministry of Investment to commemorate the U.S. administration's 'America First' program and the Kingdom's commitment to investing in critical U.S. energy infrastructure projects. 'T1's rapid corporate transformation gained momentum during and following the first quarter,' said Daniel Barcelo, T1's Chief Executive Officer and Chairman of the Board. 'Although potential changes to trade policy are creating near-term uncertainties in the merchant sales market for T1 and our developer customers, we are well positioned to manage this sales environment with 1.7 GW of 2025 contracted module offtake coverage, a robust cash and liquidity position, and the continued production and sales ramp up at G1 Dallas. In addition, our plans to establish a vertically integrated U.S. solar value chain, coupled with our domestic content strategy, are generating meaningful interest from customers, prospective capital providers, and industrial partners. As we sprint forward with our key strategic initiatives, we will continue to prioritize value generating opportunities that enhance T1's competitive position as an emerging leader in the U.S. solar and storage markets.' Highlights of First Quarter 2025 and Subsequent Events G1 Dallas fully operational following term conversion of construction loan. On April 30 th, T1 achieved term conversion of the G1 Dallas construction loan to a $235 million term loan in line with the previously communicated timeline. The conversion of the loan was conditioned upon third-party verification that construction, commissioning, and testing of all G1 Dallas production line equipment was complete. All production lines have been handed over to T1's operations team. Key additions strengthen T1's leadership team. On April 28 th, T1 announced the additions of Andy Munro as Chief Legal Officer and Russell Gold as Executive Vice President of Strategic Communications. Mr. Munro and Mr. Gold bring deep solar energy legal and communications experience to T1's mission to create a vertically integrated, solar plus storage manufacturing and technology leader in the United States. U.S. tariffs align with T1's strategy to establish an integrated U.S. solar value chain based on high domestic content. On April 4th, T1 published a communication highlighting the potential long-term benefits to T1 from its domestic vertical integration strategy. Although solar industrial and tariff policy uncertainty are creating some near-term headwinds for T1 and utility-scale developers, T1 believes that it is positioned to benefit from public policies that promote U.S. manufacturing, technology transfer, and job creation. Business Outlook and Guidance Reducing 2025 guidance, maintaining integrated G1/G2 guidance. T1 is lowering its 2025 full-year EBITDA guidance to $25 - $50 million from a prior range of $75 - $125 million based on a reduced production forecast of 2.6 – 3.0 GW from a prior expectation of 3.4 GW. The reduction in 2025 guidance reflects T1's assumption of limited to no merchant sales from G1 Dallas during 2025 due to near-term trade policy uncertainties that are obscuring Bill of Materials cost visibility and creating a temporary lull in bidding activity; the elective conversion of three production lines from PERC to TOPCon technology; and a potential 800 MW inventory build. There are no changes to T1's projected $650 - $700 million annual run-rate EBITDA estimate based on optimized production at G1 Dallas and G2 Austin. Strong liquidity outlook despite reductions to 2025 to EBITDA guidance. At the low-end of T1's updated 2025 EBITDA guidance range, the Company expects to exit 2025 with a cash and liquidity position of more than $100 million after approximately $70 million of cash debt service. T1's significant liquidity position is supported by 1.5 GW of high-margin customer offtake contracts, the anticipated start of Section 45X Production Tax Credit ('PTC') monetizations in Q2 or Q3 2025, and the expected roll off of $20 million of legacy annual General & Administrative expenses by 2026 associated with the wind down of T1's legacy European business. T1 is advancing financing processes for G2 Austin. T1 initiated several capital formation initiatives in parallel during the first quarter to pursue funding for the Company's planned G2 Austin U.S. solar cell facility. The Company is currently advancing a project financing with its consortium of commercial lenders, the monetization of Section 45X PTCs, and possible mezzanine financing options to complement expected customer offtake deposits to reserve G2 capacity. Update on European Portfolio Optimization. The Company continues to make progress with the wind down of legacy European operations and the European Portfolio Optimization initiative. As personnel-related expenses roll off T1's P&L, cost savings from the wind down should accelerate later in 2025, representing a projected $20 million of General & Administrative costs that will not recur in 2026. T1's Board of Directors is concurrently overseeing the process of potentially harvesting value from legacy European assets, including Giga Arctic, the Customer Qualification Plant, and the Giga Vasa project. Securing access to additional power for these assets is expected to be a key value driver, and T1 will provide additional updates as the process develops. Q1 2025 Results Overview T1 Energy reported a net loss attributable to common stockholders for the first quarter 2025 of $17.1 million, or $0.11 per diluted share compared to a net loss of $28.5 million, or $0.20 per diluted share for the first quarter of 2024. Net loss from continuing operations was $4.1 million, or $0.03 per diluted share for the first quarter of 2025 compared to $11.3 million or $0.08 per diluted share for the first quarter of 2024. Net loss from discontinued operations was $12.1 million or $0.08 per diluted share for the first quarter of 2025 compared to $17.4 million or $0.12 per diluted share for the first quarter of 2024. As of March 31, 2025, T1 had cash, cash equivalents, and restricted cash of $51.1 million. Presentation of First Quarter 2025 Results A presentation will be held today, May, 15, 2025, at 8:00 am Eastern Daylight Time to discuss financial and operating results for the first quarter. The results and presentation material will be available for download at To access the conference call, listeners should proceed as follows: Click on the call link and complete the online registration form. Upon registering, you will receive dial-in information and a unique PIN to join the call as well as an email confirmation with details. Select a method for joining the call: Dial in: A dial in number and unique PIN are displayed to connect directly by phone. Call Me: Enter your phone number and a click 'Call Me' for an immediate callback from the system. The call will come from a U.S. number. The call will also be available by clicking the webcast link. 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 and follow us on social media. Investor contact: Jeffrey Spittel EVP, Investor Relations and Corporate Development Tel: +1 409 599-5706 Media contact: Russell Gold EVP, Strategic Communications Tel: +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: the Company's commercial appeal to U.S. developer customers; the Company's financial, production and operational guidance; the existence of trade policy uncertainties and lack of cost visibility; the Company's inventory build resulting from production at G1; the Company's projected cash and liquidity position; the ability of the Company to ramp sales and production volumes at G1; the speed and success of the Company's corporate transformation; the Company's ability to manage the current sales environment; the Company's plans to establish a vertically integrated U.S. solar value chain, coupled with its domestic content strategy; interest from the Company's customers, prospective capital providers and industrial partners; the prioritization of value generating opportunities that enhance the Company's competitive position as an emerging leader in the U.S. solar and storage markets; the potential for an investment in the Company's planned G2 Austin U.S. solar cell manufacturing facility by a partner aligned with the Kingdom of Saudi Arabia; the Company's potential long-term benefits of tariffs and other public policies that promote U.S. manufacturing, technology transfer, and job creation; the elective conversion of three production lines from PERC to TOPCon technology; the anticipated start of Section 45X Production Tax Credit ('PTC') monetizations in Q2 or Q3 2025; the expected roll off of $20 million of legacy annual General & Administrative expenses by 2026 associated with the wind down of T1's legacy European business; and the Company's goals and projections for securing project financing at G2; 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 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. March 31, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 48,881 $ 72,641 Restricted cash 2,210 4,004 Accounts receivable trade, net - related parties 18,005 — Government grants receivable, net 14,080 687 Inventory 333,032 274,549 Advances to suppliers 164,248 164,811 Other current assets 7,908 1,569 Current assets of discontinued operations 38,312 64,909 Total current assets 626,676 583,170 Property and equipment, net 310,246 285,187 Goodwill 74,527 74,527 Intangible assets, net 270,686 281,881 Right-of-use asset under operating leases 149,570 111,081 Total assets $ 1,431,705 $ 1,335,846 LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 108,532 $ 61,708 Accrued liabilities and other 76,845 91,346 Deferred revenue 61,525 48,155 Derivative liabilities 1,556 14,905 Current portion of long-term debt 56,492 42,867 Current portion of long-term debt - related party 59,000 51,500 Payables to related parties 88,947 52,534 Current liabilities of discontinued operations 40,204 51,009 Total current liabilities 493,101 414,024 Long-term deferred revenue 30,000 32,000 Convertible note - related party 82,083 80,698 Operating lease liability 139,921 101,787 Long-term debt 170,753 188,316 Long-term debt - related party 234,829 238,896 Deferred tax liability 20,232 21,227 Other long-term liabilities 9,581 21,761 Total liabilities 1,180,500 1,098,709 Commitments and contingencies Redeemable preferred stock Convertible series A preferred stock, $0.01 par value, 5,000 issued and outstanding as of both March 31, 2025 and December 31, 2024 (includes accrued dividends and accretion of $978 and $87 as of March 31, 2025 and December 31, 2024, respectively) 49,266 48,375 Stockholders' equity: Common stock, $0.01 par value, 155,938 issued and outstanding as of March 31, 2025 and 155,928 issued and outstanding as of December 31, 2024 1,559 1,559 Additional paid-in capital 974,767 971,416 Accumulated other comprehensive loss (32,910) (58,975) Accumulated deficit (741,477) (725,238) Total equity 201,939 188,762 Total liabilities, redeemable preferred stock, and equity $ 1,431,705 $ 1,335,846 Three months ended March 31, 2025 2024 Net sales - related parties $ 64,647 $ — Cost of sales 35,671 — Gross profit 28,976 — Selling, general and administrative 52,587 15,004 Loss from continuing operations (23,611) (15,004) Other income (expense): Warrant liability fair value adjustment 1,567 146 Derivative liabilities fair value adjustment 25,229 — Interest (expense) income, net (9,853) 1,405 Foreign currency transaction (loss) gain (14) 554 Other income, net 34 1,594 Total other income 16,963 3,699 Loss from continuing operations before income taxes (6,648) (11,305) Income tax benefit 2,513 — Net loss from continuing operations (4,135) (11,305) Net loss from discontinued operations, net of tax (12,104) (17,385) Net loss (16,239) (28,690) Net loss attributable to non-controlling interests — 147 Preferred dividends and accretion (891) — Net loss attributable to common stockholders $ (17,130) $ (28,543) Weighted average shares of common stock outstanding - basic and diluted 155,933 139,705 Net loss per share from continuing operations - basic and diluted $ (0.03) $ (0.08) Net loss per share from discontinued operations - basic and diluted $ (0.08) $ (0.12) Net loss per share attributable to common stockholders - basic and diluted $ (0.11) $ (0.20) Other comprehensive income (loss): Net loss $ (16,239) $ (28,690) Foreign currency translation adjustments 26,065 (26,044) Total comprehensive income (loss) 9,826 (54,734) Comprehensive loss attributable to non-controlling interests — 147 Preferred dividends and accretion (891) — Comprehensive income (loss) attributable to common stockholders $ 8,935 $ (54,587) Three months ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (16,239) $ (28,690) Adjustments to reconcile net loss to cash used in operating activities: Share-based compensation expense 3,939 3,551 Depreciation and amortization 14,678 2,211 Change in fair value of derivative liabilities (25,229) — Gain on sale of property and equipment (5,675) — Accretion of discount on long-term debt 4,640 — Reduction in the carrying amount of right-of-use assets 1,689 277 Warrant liability fair value adjustment (1,567) (146) Deferred income taxes (995) — Share of net loss of equity method investee 425 156 Foreign currency transaction net unrealized gain 251 (1,359) Other 1,311 — Changes in assets and liabilities: Inventory (58,483) — Advances to suppliers and other current assets (358) 2,852 Trade accounts receivable (18,005) — Government grants receivable (13,393) — Accounts payable, accrued liabilities and other 56,827 4,930 Deferred revenue 11,370 — Net cash used in operating activities (44,814) (16,218) Cash flows from investing activities: Proceeds from the return of property and equipment deposits 1,202 19,021 Purchases of property and equipment (29,141) (21,455) Proceeds from the sale of property and equipment 50,000 — Net cash provided by (used in) investing activities 22,061 (2,434) Cash flows from financing activities: Debt fees paid (3,760) — Net cash used in financing activities (3,760) — Effect of changes in foreign exchange rates on cash, cash equivalents, and restricted cash 959 (4,324) Net decrease in cash, cash equivalents, and restricted cash (25,554) (22,976) Cash, cash equivalents, and restricted cash at beginning of period 76,645 275,742 Cash, cash equivalents, and restricted cash at end of period $ 51,091 $ 252,766
Yahoo
15-05-2025
- Business
- Yahoo
T1 Energy Take Steps to Bring Investment to G2_Austin Solar Cell Project
Working with a Saudi partner aligned with the Kingdom of Saudi Arabia to explore a potential strategic investment in G2_Austin 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 and follow us on social media. Investor contact: Jeffrey SpittelEVP, Investor Relations and Corporate +1 409 599 5706 Media contact: Russell GoldEVP, Strategic +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 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.
