T1 Provides Update from G1 Dallas

Rhea-AI Summary

T1 Energy (NYSE: TE) has announced significant progress at its G1 Dallas solar module manufacturing facility in Wilmer, Texas. The company successfully converted its construction loan to a $235 million term loan on April 30th, 2025, after meeting key conditions including customer acknowledgment, construction completion verification, and independent certification. The facility, with a 5 GW annual production capacity, achieved 443 MW of PV solar module production in Q1 2025, reaching 96% of its planned production target. Additionally, T1 is adapting to market demands by converting three production lines from PERC to TOPCon technology.

Positive

• Successful conversion of construction loan to $235 million term loan on schedule
• High production efficiency with 96% of Q1 target achieved (443 MW)
• Large production capacity of 5 GW annually
• Strategic adaptation to market conditions by upgrading to TOPCon technology

Negative

• None.

AUSTIN, Texas and NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) (“T1,” “T1 Energy,” or the “Company”) provided an update on the Company’s progress at its G1 Dallas solar module manufacturing facility in Wilmer, Texas.

Highlights

• On April 30^th, T1 achieved term conversion of the G1 Dallas construction loan to a $235 million term loan in line with the previously communicated timeline
  
• The conversion of the construction loan was conditioned upon third-party verification that construction, commissioning, and testing of all G1 Dallas production line equipment was complete
  
• T1 produced 443 MW of PV solar modules at G1 Dallas during Q1 2025, equivalent to 96% of the Company’s production plan
  
  

On April 30, 2025, the construction loan of the G1 Dallas solar module manufacturing facility converted to a $235 million term loan in accordance with the terms set forth by T1’s banking consortium of commercial lenders. The term conversion occurred following T1’s satisfaction of certain conditions precedent, including:

• A formal acknowledgement by each of T1’s solar module offtake customers that facility commissioning had occurred;
  
• Confirmation by Gray Construction, Inc. that substantial completion of G1 construction had occurred; and
  
• Certification by an independent engineer that G1 Dallas, with a total annual production capacity of 5 GW, has been installed, tested, and is ready and capable of being used for its intended purposes in a safe manner.
  
  

“The term conversion of the G1 Dallas construction loan is an important milestone for T1,” said Evan Calio, T1’s Chief Financial Officer. “With commissioning and third-party technical certification of the facility complete, G1 Dallas is now fully operational, and all production lines have been handed over to our operations team.”

G1 Operations Update

During Q1 2025, G1 Dallas produced 443 MW of PV solar modules while construction, commissioning, testing, and inspection of the production lines were ongoing, equating to 96% of T1’s Q1 production plan. In addition, T1 has elected to optimize the G1 product mix for prevailing market conditions by converting three production lines from PERC to TOPCon technology.

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:

Amy Jaick
SVP, Communications
amy.jaick@T1energy.com
Tel: +1 973 713-5585

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8a689f8d-4c71-4a98-84c8-7f2d331544d3

FAQ

What is the production capacity of T1 Energy's G1 Dallas facility?

T1 Energy's G1 Dallas facility has a total annual production capacity of 5 GW of solar modules.

How much did T1 Energy (TE) produce at G1 Dallas in Q1 2025?

T1 Energy produced 443 MW of PV solar modules at G1 Dallas during Q1 2025, achieving 96% of their production plan.

What is the value of T1 Energy's term loan for G1 Dallas facility?

T1 Energy converted its construction loan to a $235 million term loan on April 30, 2025.

What technology upgrade is T1 Energy implementing at G1 Dallas?

T1 Energy is converting three production lines from PERC to TOPCon technology to optimize product mix for current market conditions.