AUSTIN, Texas and NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) (“T1,” “T1 Energy,” or the “Company”) values the ongoing support in the current draft of the budget bill under consideration in the U.S. Senate for the 45X Production Tax Credit, which encourages domestic production of solar modules and component pieces. This tax policy, backed by both houses of Congress and provisionally extended through 2032, provides a foundation for the growth of a domestic solar supply chain. T1 Energy expects to participate in and benefit from that growth.
In addition, the proposed language in the budget bill maintains transferability and stackability of 45X credits. T1 views both as important incentives for the domestic solar manufacturing industry in general, and specifically for T1 by providing financing options and flexibility. The ability to potentially stack the 45X credits from integrated U.S. cell and module production is expected to contribute meaningfully to T1’s EBITDA generation.
These elements of the budget bill are important for T1 as the Company continues to advance several capital formation initiatives to fund development of G2_Austin, its planned 5 GW U.S. Solar Cell Facility in Milam County, Texas. Finalization of the budget bill and a policy framework that supports T1’s domestic content strategy are key steps to advance T1’s project financing, customer offtake discussions and other related funding initiatives. The Company expects to complete the capital formation process to reach the start of construction at G2_Austin in Q3 2025.
T1 Energy is evaluating the recently added proposal to implement an excise tax on certain solar projects that include a substantial percentage of components from a Foreign Entity of Concern (“FEOC”) nation. As a young and nimble company, T1 Energy believes it will be able to align its manufacturing operations with the final version of the bill. If the FEOC tax is in the final draft, T1 expects to be able to provide American solar modules exempt from the tax. If the provision is removed, T1 will continue with existing plans to provide high efficiency, cost-competitive modules from G1_Dallas, its operational 5 GW Solar Module Facility, while the Company evaluates its most attractive value creation opportunities.
“Solar energy strengthens our electric grids and lowers electricity prices for Americans and American businesses. We see this every day on the Texas grid as solar supports the state’s dynamic population and economic growth through abundance and affordability. Solar is not a problem. It’s an answer. And it needs to be made in America,” said T1 Chairman of the Board and Chief Executive Officer Daniel Barcelo.
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 Spittel
EVP, Investor Relations and Corporate Development
jeffrey.spittel@T1energy.com
Tel: +1 409 599 5706
Media contact:
Russell Gold
EVP, Strategic Communications
russell.gold@T1energy.com
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 ability to deliver solar modules exempt from proposed tax and any associated advantage in the solar marketplace; the duration of the 45X Production Tax Credit policy; the proposed tax policy providing a foundation for the growth of a domestic solar supply chain and the Company’s expected participation and benefit from such growth; the final form of the budget bill, including the transferability and stackability of 45X credits, and any benefits to the Company on its financing options and flexibility; the extent to which potential stackability of 45X credits may contribute meaningfully to T1's EBITDA generation; T1's ability to align its manufacturing operations with the final version of the budget bill and comply with the bill; the Company’s commitment to shareholders and customers; the Company’s capital formation initiatives to fund G2_Austin and the timeline for its construction; the Company’s ongoing customer offtake discussions; and the Company’s commitment to provide modules that are exempt from the proposed FEOC tax. 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, and T1’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2025 filed with the SEC on May 15, 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.
