Tariffs underpin U.S. manufacturing competitiveness and reinforce T1's strategy to build an integrated domestic solar supply chain
T1 Energy Inc. (NYSE:TE) ("T1" or the "Company") supports the imposition of tariffs announced this week by the U.S. administration, which align with the Company's strategy to establish a vertically integrated U.S. solar plus storage supply chain. With T1's operating 5 GW solar module facility, G1 Dallas, ramping up production, and project development activities underway for the planned G2 Austin U.S. solar cell facility, T1 is building its American manufacturing footprint and bringing new jobs to Texas.
"The tariffs introduced this week dovetail with our strategy, and the anticipated financial benefits should accelerate our plans to expand T1's U.S. solar value chain," commented Daniel Barcelo, T1's Chairman of the Board and Chief Executive Officer. "The United States needs more domestically produced energy in all forms, and we are positioning T1 to lead a domestic solar manufacturing revival built on leading edge technologies and job creation."
T1 is positioned to benefit from public policies that promote U.S. manufacturing, technology transfer, and job creation. The Company expects that the tariffs announced this week will enhance the competitiveness of U.S solar production by providing developers with financial incentives to buy domestically produced technology.
Building a U.S. job creation engine
In addition to T1's current workforce of more than 1,000 people in the United States between G1 and the T1 corporate staff, project development and capital formation activities for the Company's planned G2 Austin U.S. solar cell facility are underway. T1 expects that G2 will create as many as 1,700 jobs in Milam County, Texas and facilitate the development of an integrated, value creating U.S. manufacturing operation.
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 Austin, Texas, 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 on social media.
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 operational performance and profitability (including its strategic objective to become a vertically integrated U.S. solar and storage leader and an engine of American energy, jobs, and advanced manufacturing), creation of jobs in the U.S. and investments in project sites, the timing of production ramp of solar modules, progress on the anticipated timing, development and construction for G2, any production targets at the Company's facilities, any financial and operating guidance, growth prospects for the U.S. solar and storage market and our ability to generate value from non-core assets and rationalizing costs from discontinued operations. 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 post-effective amendment no. 1 to the Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC") on January 4, 2024, (ii) 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, and (iii) T1's annual report on Form 10-K filed with the SEC on February 29, 2024, and T1's quarterly reports on Form 10-Q filed with the SEC on May 8, August 9 and November 12, 2024, and 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' sections. T1 also intends to use certain social media channels, including, but not limited to, X and LinkedIn, as means of communicating with the public and investors about T1, its progress, products, and other matters. While not all the information that T1 posts to its 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 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 other social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
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