T1 Energy Reports Second Quarter 2025 Results

T1 Energy Inc.

G1 DallasT1 Energy's G1 Dallas Solar Cell Manufacturing Facility

AUSTIN, Texas and NEW YORK, Aug. 20, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) (“T1,” “T1 Energy,” or the “Company”) has reported financial and operating results for the second quarter 2025 and will hold a conference call today.

Headlines

T1 announces transformative agreement with Corning Incorporated. T1 signed a deal to purchase solar wafers produced by Corning Incorporated (NYSE: GLW) in Michigan, which advances the Company’s FEOC compliance effort, boosts development of a domestic solar supply chain and is expected to position T1 as a preeminent supplier of American solar modules at a time of rising demand. T1 signed a 437 MW 2025 sales agreement with one of the largest U.S. utilities. The Company has been fielding a noticeably elevated cadence of inbound customer inquiries following the passage of the One Big Beautiful Bill (“OBBB”). During the third quarter, T1 entered into a merchant sales contract with a major U.S. utility for deliveries commencing in Q3 2025. With this sales agreement, T1 is now sold out for 2025 at G1_Dallas based on the low end of the Company’s 2.6 GW production plan. G2_Austin development progressing. T1’s project development team continues to advance the Company’s $850 million, 5 GW U.S. solar cell plant—the largest planned capital investment in the U.S. polysilicon solar supply chain, according to Rystad Energy. The project is on track to start construction in Q3/Q4 of 2025. As previously disclosed, T1 has elected to develop G2_Austin in two stages of 2.5 GW each. T1 is advancing multiple financing processes to fund G2, including traditional project financing through a consortium of lenders, a mezzanine financing tranche, customer offtake contract deposits, and potential project investments by strategic partners. There is no change to T1’s expectation to start production from the first phase of G2_Austin in Q4 2026. Start of construction remains subject to progress toward achieving compliance with FEOC regulations under the OBBB. Committee on Foreign Investment in the United States (“CFIUS”) provided notification of no jurisdiction over proposed transaction between T1 and Trina Solar. Earlier in 2025 and as noted previously, T1 and Trina jointly filed a voluntary notice with CFIUS. During the second quarter, CFIUS informed the parties that the transaction was not subject to CFIUS jurisdiction. T1 is focused on ensuring Section 45X tax credit eligibility. Following the passage of the OBBB, T1’s top strategic priority for 2025 is achieving compliance with FEOC-related requirements to maintain access to the Section 45X Production Tax Credits. T1 is confident in its ability to align the Company’s business plan, strategy, capital structure and supply chain with the OBBB.

Story Continues

“Interest in domestic solar is accelerating on several fronts since early July. We’re seeing increased commercial sales, the pace of offtake agreement discussions is quickening, demand from hyperscale AI projects is phenomenal, and there’s growing interest in our G2_Austin solar cell project,” said Daniel Barcelo, T1’s Chief Executive Officer and Chairman of the Board. “It is clear the time to build a domestic solar supply chain is right now. That’s what we’re delivering.”

Highlights of Second Quarter 2025 and Subsequent Events

G1_Dallas reaches 1 GW production milestone. T1 surpassed the 1 GW cumulative production milestone at G1_Dallas in the second quarter. With the recent commercial momentum from the most recent 473 MW sales agreement announced this morning, T1 is now sold out for 2025 based on the low end of the Company’s production plan of 2.6 GW. As of August 2025, T1 has produced more than 1.2 GW of modules at G1 during 2025. T1 advances planned G2_Austin 5 GW U.S. solar cell manufacturing project. In June, the Company announced the selection of Yates Construction as the contractor for pre-construction services and site preparations for its planned $850 million, G2_Austin solar cell facility. Yates joins SSOE Group, which has been providing project engineering for G2_Austin since December 2024. T1 also secured a long-term tax abatement from Milam County, Texas, for the facility.

Business Outlook and Guidance

Maintaining 2025 EBITDA guidance of $25 - $50 million, forecast risks skewing to downside. T1’s 2025 full-year EBITDA guidance of $25 - $50 million is unchanged. A mix shift towards merchant sales agreements in H2 2025, the emergence of near-term uncertainties related to implementation of AD/CVDs, reciprocal tariffs, supply chain impacts, and customer safe harboring backlogs have skewed risks towards or below the low-end of the guidance range. T1’s guidance range assumes 2025 G1_Dallas production of 2.6 GW and no additional merchant sales in H2 2025. There are no changes to T1’s projected $650 - $700 million annual run-rate EBITDA estimate based on optimized production at G1_Dallas and G2_Austin. Update on European Portfolio Optimization. T1 accelerated the wind down of its legacy European operations in the second quarter. The Company has subsequently initiated a strategic communications campaign to highlight the potential value of Giga Arctic repurposed as a data center or AI infrastructure hub, subject to the restoration of previously granted power access by the Norwegian state-owned power grid operator. T1 intends to continue to pursue value maximizing opportunities for its European portfolio and will continue to provide updates as warranted.

Q2 2025 Results Overview

T1 Energy reported a net loss attributable to common stockholders for the second quarter 2025 of $32.8 million, or $0.21 per diluted share compared to a net loss of $27.0 million, or $0.19 per diluted share for the second quarter of 2024. Net loss from continuing operations was $31.8 million, or $0.20 per diluted share for the second quarter of 2025 compared to $10.3 million or $0.07 per diluted share for the second quarter of 2024. Net loss from discontinued operations was less than $0.1 million or $0.00 per diluted share for the second quarter of 2025 compared to $16.8 million or $0.12 per diluted share for the second quarter of 2024. As of June 30, 2025, T1 had cash, cash equivalents, and restricted cash of $46.7 million.

Presentation of Second Quarter 2025 Results

A presentation will be held Wednesday, August 20, 2025, at 8:00 am Eastern Daylight Time to discuss financial and operating results for the second quarter. The results and presentation material will be available for download at https://ir.t1energy.com.

To access the conference call, listeners should proceed as follows:

Click on the call link and complete the online registration form. Upon registering, you will receive dial-in information and a unique PIN to join the call as well as an email confirmation with details. Select a method for joining the call: Dial in: A dial in number and unique PIN are displayed to connect directly by phone. Call Me: Enter your phone number and click “Call Me” for an immediate callback from the system. The call will come from a U.S. number.

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