Talon PV Enters TOPCon Patent Licensing Agreement with First Solar

Agreement paves way for American TOPCon crystalline silicon PV cell manufacturing

Talon PV, a US-based manufacturer of crystalline silicon (c-Si) photovoltaic (PV) solar cells, has secured the license for crucial Tunnel Oxide Passivated Contact (TOPCon) cell manufacturing patents from First Solar, Inc. (Nasdaq: FSLR), America’s leading solar technology and manufacturing company. The terms of the agreement were not disclosed.

Talon's US-based N-type TOPCon cell manufacturing facility is scheduled to commence operations in the first quarter of 2026, adding 4 gigawatts (GW) of annual American c-Si solar cell production capacity by first quarter of 2027.

“We’re thrilled to partner with First Solar, America’s flagship solar technology company, to ensure that we can differentiate ourselves from other cell manufacturers not just by manufacturing in the United States but also in offering our customers the peace of mind that comes with procuring cells that don’t infringe on other companies’ intellectual property,” said Adam Tesanovich, Chief Executive Officer, Talon PV. “Securing this license keeps us on track to produce American-made TOPCon cells next year, enabling the onshoring of a critical component of the crystalline silicon solar value chain.”

First Solar obtained the US TOPCon patents and related international counterparts through its 2013 acquisition of TetraSun, Inc. The patents include issued patents in the United States, Australia, Canada, China, the European Union, Hong Kong, Japan, Mexico, Malaysia, Singapore, South Korea, the United Arab Emirates, and Vietnam with validities extending to 2030 and beyond. The portfolio also includes pending patent applications in the European Union, Japan, Hong Kong, United Arab Emirates, and Vietnam.

“We have long advocated for the development of a diverse, competitive American solar manufacturing industry, and we’re pleased to support a fellow American company’s efforts to produce crystalline silicon solar cells in the US,” said Jason Dymbort, Executive Vice President, General Counsel and Secretary, First Solar. “We are encouraged to find that manufacturers like Talon PV are committed to ensuring their freedom to manufacture by operating within the framework of the law and ensuring that their products don’t infringe on our patents. Our decision to license our intellectual property reflects our willingness to work with companies that respect the law.”

About First Solar, Inc.

First Solar, Inc. (Nasdaq: FSLR) is America's leading PV solar technology and manufacturing company. The only US-headquartered company among the world's largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with its advanced, uniquely American thin film PV technology. Developed at research and development (R&D) labs in California and Ohio, the Company's technology represents the next generation of solar power generation, providing a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV modules. For more information, please visit www.firstsolar.com.

About Talon PV

Talon PV is a US-based high-tech manufacturer specializing in N-type photovoltaic (PV) cell production, dedicated to advancing high-efficiency cell technology. In addition to its core manufacturing operations, Talon PV places a strong emphasis on research and development, continuously innovating and developing intellectual property to drive future advancements in cell processing. The company employs state-of-the-art American and Western equipment and integrates cutting-edge technology, such as LECO, to achieve industry-leading efficiency. Talon PV's highly skilled technical team, in conjunction with experts from the Fraunhofer Institute, ensures excellence in innovation and execution. Operating under novel intellectual property licenses, the company maintains world-class production facilities and implements a rigorous quality control system to guarantee that each cell meets the highest industry standards. Additional capacity expansion beyond 4 gigawatts (GW) planned in late 2028. www.talonpv.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains various “forward-looking statements” which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, are forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: (i) the validities extending to 2030 of patents including issued patents in the United States, Australia, Canada, China, the European Union, Hong Kong, Japan, Mexico, Malaysia, Singapore, South Korea, the United Arab Emirates, and Vietnam; (ii) that Talon PV's US-based N-type TOPCon cell manufacturing facility is scheduled to commence operations in the first quarter of 2026, adding 4 GW of annual American c-Si solar cell production capacity and (iii) that securing this license keeps Talon PV on track to produce American-made TOPCon cells next year. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on First Solar’s current expectations and First Solar’s projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. First Solar undertakes no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause First Solar’s actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the results of our investigation of potential infringers, the costs and other impacts arising from any subsequent litigation, the results of which are unpredictable; the validity and scope of claims relating to the patents; the potential for companies to develop and patent technology designed to exclude our patented technology; and the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of First Solar’s most recent Annual Report on Form 10-K, as supplemented by First Solar’s other filings with the Securities and Exchange Commission.

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