SUMMARY:
Today, we announced T1 Energy has secured the rights to acquire foundational solar patents and other intellectual property from Singapore-based Evervolt Green Energy Holding Pte Ltd. for a total consideration of $135 million. The patents and other intellectual property, which T1 previously licensed from Evervolt, relate to Tunnel Oxide Passivated Contact (“TOPCon”) solar cells and modules: the most advanced, highly efficient commercially viable solar technology available today. We expect this transaction will enhance our efforts to build an integrated U.S. solar supply chain.
Under the agreed terms of the transaction, T1 will pay Evervolt $2 million in cash upon closing, with the remaining $133 million to be paid in either cash or shares of T1 common equity, solely at T1's election.
“Owning the intellectual property rights to leading silicon-based solar technologies is an important step to augment T1’s differentiated competitive position as a vertically integrated crystalline silicon U.S. solar manufacturer.
We also believe that this intellectual property will be accretive to T1 economically, in addition to yielding significant commercial and strategic benefits.”
T1 expects the transaction to be financially accretive through third-party licensing fees, as well as the potential to establish a shared research and development platform with future prospective licensees. Additionally, ownership of this intellectual property is expected to further strengthen T1’s established efforts to meet or exceed requirements of the One Big Beautiful Bill Act’s provisions for securing future manufacturing tax credits. To learn more about this announcement, access the full press release on our investor relations page here.
Forward-Looking Statements
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