T1 Energy Take Steps to Bring Investment to G2_Austin Solar Cell Project
T1 Energy (NYSE: TE) has signed a non-binding Heads of Agreement with Manaar Gulf Saudi Arabia Ltd. to explore potential strategic investment in their planned G2_Austin 5 GW solar cell manufacturing facility. The agreement was signed on May 13th, 2025, during a ceremony in Riyadh hosted by the Saudi Ministry of Investment (MISA), aligning with the Trump administration's 'America First' program and Saudi Arabia's commitment to U.S. energy infrastructure investments.
CEO Daniel Barcelo emphasized the importance of establishing a domestic solar manufacturing supply chain, building upon their existing G1_Dallas facility. The partnership aims to accelerate T1's development plans and strengthen their position as a U.S. solar energy leader. The collaboration also opens possibilities for T1 to explore investments in Saudi Arabia's solar manufacturing sector.
T1 Energy (NYSE: TE) ha firmato un accordo preliminare non vincolante con Manaar Gulf Saudi Arabia Ltd. per esplorare un potenziale investimento strategico nel loro previsto impianto di produzione di celle solari G2_Austin da 5 GW. L'accordo è stato firmato il 13 maggio 2025 durante una cerimonia a Riyadh ospitata dal Ministero dell'Investimento Saudita (MISA), in linea con il programma 'America First' dell'amministrazione Trump e l'impegno dell'Arabia Saudita negli investimenti nelle infrastrutture energetiche statunitensi.
Il CEO Daniel Barcelo ha sottolineato l'importanza di creare una filiera di produzione solare nazionale, basandosi sull'impianto esistente G1_Dallas. La partnership mira ad accelerare i piani di sviluppo di T1 e a rafforzare la loro posizione come leader dell'energia solare negli Stati Uniti. La collaborazione apre anche opportunità per T1 di esplorare investimenti nel settore della produzione solare in Arabia Saudita.
T1 Energy (NYSE: TE) ha firmado un Acuerdo de Principios no vinculante con Manaar Gulf Saudi Arabia Ltd. para explorar una posible inversión estratégica en su planificada instalación de fabricación de células solares G2_Austin de 5 GW. El acuerdo se firmó el 13 de mayo de 2025 durante una ceremonia en Riad organizada por el Ministerio de Inversiones Saudí (MISA), alineándose con el programa 'America First' de la administración Trump y el compromiso de Arabia Saudita con las inversiones en infraestructura energética de EE.UU.
El CEO Daniel Barcelo destacó la importancia de establecer una cadena de suministro nacional para la fabricación solar, basándose en su instalación existente G1_Dallas. La asociación busca acelerar los planes de desarrollo de T1 y fortalecer su posición como líder de energía solar en EE.UU. La colaboración también abre posibilidades para que T1 explore inversiones en el sector de fabricación solar de Arabia Saudita.
T1 Energy (NYSE: TE)는 Manaar Gulf Saudi Arabia Ltd.와 잠정적 전략적 투자를 모색하기 위한 비구속적 기본합의서(Heads of Agreement)를 체결했습니다. 대상은 계획 중인 G2_Austin 5GW 태양광 셀 제조 시설입니다. 이 합의서는 2025년 5월 13일 사우디 투자부(MISA)가 주최한 리야드 행사에서 서명되었으며, 트럼프 행정부의 'America First' 프로그램과 사우디아라비아의 미국 에너지 인프라 투자 약속과 일치합니다.
CEO 다니엘 바르셀로는 기존 G1_Dallas 시설을 기반으로 국내 태양광 제조 공급망 구축의 중요성을 강조했습니다. 이번 파트너십은 T1의 개발 계획을 가속화하고 미국 태양광 에너지 리더로서의 입지를 강화하는 것을 목표로 합니다. 또한 이번 협력은 T1이 사우디아라비아 태양광 제조 부문에 대한 투자 가능성을 탐색할 수 있는 기회를 제공합니다.
T1 Energy (NYSE : TE) a signé un protocole d'accord non contraignant avec Manaar Gulf Saudi Arabia Ltd. pour explorer un investissement stratégique potentiel dans leur future usine de fabrication de cellules solaires G2_Austin de 5 GW. L'accord a été signé le 13 mai 2025 lors d'une cérémonie à Riyad organisée par le Ministère saoudien de l'Investissement (MISA), en accord avec le programme 'America First' de l'administration Trump et l'engagement de l'Arabie Saoudite envers les investissements dans les infrastructures énergétiques américaines.
Le PDG Daniel Barcelo a souligné l'importance d'établir une chaîne d'approvisionnement nationale pour la fabrication solaire, en s'appuyant sur leur installation existante G1_Dallas. Ce partenariat vise à accélérer les plans de développement de T1 et à renforcer leur position de leader de l'énergie solaire aux États-Unis. La collaboration ouvre également des opportunités pour T1 d'explorer des investissements dans le secteur de la fabrication solaire en Arabie Saoudite.
T1 Energy (NYSE: TE) hat eine unverbindliche Absichtserklärung mit Manaar Gulf Saudi Arabia Ltd. unterzeichnet, um eine potenzielle strategische Investition in deren geplante G2_Austin 5 GW Solarzellen-Fertigungsanlage zu prüfen. Die Vereinbarung wurde am 13. Mai 2025 während einer Zeremonie in Riad unterzeichnet, die vom saudischen Investitionsministerium (MISA) veranstaltet wurde, und steht im Einklang mit dem 'America First'-Programm der Trump-Administration sowie dem Engagement Saudi-Arabiens für Investitionen in die US-Energieinfrastruktur.
CEO Daniel Barcelo betonte die Bedeutung des Aufbaus einer inländischen Lieferkette für die Solarmodulproduktion, basierend auf der bestehenden G1_Dallas-Anlage. Die Partnerschaft zielt darauf ab, die Entwicklungspläne von T1 zu beschleunigen und ihre Position als führender Solarenergieanbieter in den USA zu stärken. Die Zusammenarbeit eröffnet zudem Möglichkeiten für T1, Investitionen im saudischen Solarherstellungssektor zu prüfen.
- Potential strategic investment from Saudi partner could accelerate development plans
- Agreement supports expansion of 5 GW solar cell manufacturing capacity
- Opportunity for international market expansion through potential investments in Saudi Arabia's solar sector
- Alignment with government initiatives may provide additional support and opportunities
- Agreement is non-binding with no guaranteed investment
- Specific investment amounts and terms not disclosed
- Timeline for potential investment completion not specified
Insights
T1 Energy's non-binding agreement with Saudi partner for G2_Austin solar facility represents positive step toward strategic capital, though execution details remain undefined.
T1 Energy has taken a preliminary step toward securing international investment for its planned 5 GW solar cell manufacturing facility in Austin. The company signed a non-binding Heads of Agreement with Manaar Gulf Saudi Arabia Ltd. to explore potential strategic investment in the G2_Austin project. This agreement was formalized during a ceremony in Riyadh hosted by the Saudi Ministry of Investment.
While this development signals progress in T1's capital formation strategy, investors should recognize several key nuances. First, this is a non-binding agreement that establishes intent but doesn't guarantee funding. The announcement contains no financial details regarding investment size, structure, or timeline. This represents an early-stage development in what would likely be a complex cross-border investment process.
The G2_Austin facility appears central to T1's expansion strategy beyond its operational G1_Dallas facility. A 5 GW manufacturing capacity would position T1 as a significant player in domestic solar cell production, aligning with broader policy objectives to strengthen U.S. manufacturing and energy independence.
The geopolitical context is noteworthy, with the agreement framed within both the "America First" agenda and Saudi Arabia's investment interests in U.S. energy infrastructure. The memorandum also mentions potential reciprocal opportunities for T1 to invest in Saudi Arabia's solar sector, suggesting a bilateral relationship that could extend beyond a single capital injection.
This agreement represents a positive initial step in T1's efforts to secure growth capital, but considerable work remains to convert this preliminary framework into binding commitments and operational progress.
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 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: 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.
FAQ
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