T1 Executes First Sale of Section 45X Tax Credits
Rhea-AI Summary
T1 Energy (NYSE: TE) completed a $160 million sale of Section 45X production tax credits (PTCs) to an investment-grade U.S. buyer on Dec. 30, 2025. The Tax Credit Purchase and Sale Agreement was executed in December at a price of $0.91 per $1 of PTC, covering PTCs accrued and third-party verified through December 2025.
The parties intend a true-up in February 2026 after confirmation of December 2025 module production. Citigroup Global Markets served as financial advisor. Management said monetizing 45X credits supports investment in domestic production at G1_Dallas (fully ramped) and G2_Austin (under construction).
Positive
- $160 million of PTCs sold to an investment-grade buyer
- Transaction executed at $0.91 per $1 of PTC
- PTCs third-party verified through December 2025
- Citigroup Global Markets acted as financial advisor
- Sale proceeds imply approximately $145.6 million gross realization
Negative
- Transaction is subject to a February 2026 true-up pending production confirmation
- Realized price of $0.91 is below full face value, reducing potential proceeds
News Market Reaction 26 Alerts
On the day this news was published, TE gained 1.25%, reflecting a mild positive market reaction. Argus tracked a peak move of +6.7% during that session. Our momentum scanner triggered 26 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $23M to the company's valuation, bringing the market cap to $1.88B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
TE fell 5.59% while close peers showed smaller mixed moves: EAF -0.13%, ELVA -0.76%, SDST -1.27%, FCEL -0.91%, TGEN +0.79%. The pre-news decline appears more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 22 | Supply partnership | Positive | +13.5% | Three-year 900 MW domestic-content module supply deal with Treaty Oak. |
| Dec 17 | Facility construction | Positive | -0.4% | Began construction of G2_Austin solar cell fab with large planned capacity. |
| Dec 11 | Priced offerings | Negative | -4.5% | Priced upsized $140M notes and 28.3M-share equity offering with dilution. |
| Dec 10 | Proposed offerings | Negative | -8.6% | Announced proposed convertible notes and equity offerings to fund expansion. |
| Nov 21 | Strategic update | Neutral | +0.0% | CEO meeting with U.S. Vice President and reiteration of fab construction plans. |
Recent capital-raising announcements coincided with share pressure, while strategic and commercial updates (like the Treaty Oak partnership) saw stronger positive reactions.
Over the past six weeks, T1 Energy announced several major financing and growth steps. On Dec 11–15, concurrent equity and convertible note offerings and related filings highlighted dilution and balance-sheet restructuring, with 24-hour moves from -8.62% to -4.55%. Construction of the G2_Austin solar cell fab and a three-year, 900 MW Treaty Oak module supply deal underscored expansion, with the Treaty Oak news drawing a 13.53% gain. The current monetization of $160 million in Section 45X tax credits fits the broader theme of funding U.S. manufacturing build-out.
Regulatory & Risk Context
An effective S-3 resale registration dated Nov 17, 2025 covers up to 21,504,901 shares of common stock held by selling securityholders. T1 Energy will not receive any proceeds from these resales, but the registration facilitates potential secondary selling activity by existing holders.
Market Pulse Summary
This announcement highlights T1 Energy’s first monetization of Section 45X production tax credits, with a completed sale of $160 million in PTCs at $0.91 per dollar and a planned true-up in February 2026. It reinforces the company’s strategy of using policy-linked incentives to support expansion of its G1_Dallas and G2_Austin facilities. In light of recent equity and convertible note transactions and a resale registration for 21,504,901 shares, investors may watch future capital needs, tax-credit pricing, and execution at G2_Austin.
Key Terms
production tax credits regulatory
tax credit purchase and sale agreement financial
AI-generated analysis. Not financial advice.
AUSTIN, Texas and NEW YORK, Dec. 30, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) (“T1,” “T1 Energy,” or the “Company”) announced this morning that the Company has completed a
The sale encompasses
“We are pleased to have successfully completed our first sale of Section 45X tax credits to a U.S. financial institution,” commented Evan Calio, T1’s Chief Financial Officer. “Validating our ability to monetize these credits is an important step for T1 as we continue to invest in advanced American manufacturing and grow our domestic production capacity at G1_Dallas, which is fully ramped, and at G2_Austin, our U.S. solar cell fab that is now under construction.”
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 U.S., with a complementary solar and battery storage strategy. Based in the U.S. 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: PTCs to be generated in December 2025, the intention to true-up the transaction described in this press release in 2026, and our expectation to continue to invest in advanced American manufacturing and grow our domestic production capacity at G1_Dallas. 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 Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025 filed with the SEC on May 15, 2025, as amended and supplemented by Amendment No. 1 on Form 10-Q/A filed with the SEC on August 18, 2025, (iii) T1’s Quarterly Report on Form 10-Q for the period ended June 30, 2025, filed with the SEC on August 19, 2025 and (iv) T1’s Quarterly Report on Form 10-Q for the period ended September 30, 2025, filed with the SEC on November 14, 2025. 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
What did T1 (NYSE: TE) announce on December 30, 2025 regarding Section 45X tax credits?
How much cash does the T1 (TE) PTC sale likely generate?
When is the true-up for T1's (TE) Section 45X tax credit sale scheduled?
Who advised T1 (TE) on the $160 million tax credit sale?
What production sites did T1 mention in the tax credit announcement?
