Core Viewpoint - TOYO Co., Ltd has secured a $150 million contract to supply high-efficiency solar cells to a major solar module manufacturer, highlighting its commitment to sustainable energy and the transition to renewable resources [1][2]. Group 1: Contract Details - The agreement involves the delivery of advanced solar cells to support the customer's solar module production in India and the U.S. [2] - TOYO will utilize its manufacturing capabilities in Vietnam and Ethiopia to produce high-quality solar cells that improve the efficiency and performance of solar modules [2]. Group 2: Company Positioning - The CEO of TOYO, Mr. Junsei Ryu, emphasized that this contract positions TOYO as a key supplier in the solar energy market, aiming to help customers achieve their sustainability goals [3]. - The contract is expected to enhance TOYO's production capacity and strengthen its market position [3]. Group 3: Company Overview - TOYO is focused on becoming a full-service solar solutions provider, integrating various stages of the solar power supply chain, including upstream production of wafers and silicon, midstream production of solar cells, and downstream production of photovoltaic modules [4]. - The company is well-positioned to produce high-quality solar cells at competitive scales and costs [4].

Core Points - TOYO Co., Ltd will participate in two Clean Energy conferences in New York City on December 4th and 5th, 2024 [1] - The company's Chairman and CEO, Mr. Junsei Ryu, and President, Mr. Simon Shi, will be available for one-on-one meetings with institutional investors at these conferences [1] Conference Details - Jefferies Renewables & Clean Energy Conference will feature a fireside chat with Simon Shi on December 4th from 2:45 p.m. to 3:25 p.m. at Jefferies Conference Center [2] - The BofA Securities Clean Energy Symposium 2024 will include a panel discussion titled "Solar Panels: Made in America," moderated by Dimple Gosai, with Simon Shi on December 5th from 9:30 a.m. to 10:10 a.m. at Bank of America Tower [2] Company Overview - TOYO is committed to becoming a reliable full-service solar solutions provider, integrating various stages of the solar power supply chain, including upstream production of wafers and silicon, midstream production of solar cells, and downstream production of photovoltaic modules [3] - The company is positioned to produce high-quality solar cells at a competitive scale and cost [3]

Core Viewpoint - TOYO Co., Ltd has announced the acquisition of Solar Plus Technology Texas LLC to accelerate its plans for manufacturing solar modules in the U.S., with an initial capacity of 2.5 gigawatts [1][2][3]. Group 1: Acquisition Details - TOYO will acquire 100% of the membership interests in Solar Plus, located in the Houston metropolitan area [1][3]. - The acquisition is part of TOYO's strategy to establish a manufacturing footprint in the U.S., complementing its existing operations in Vietnam and Ethiopia [3][4]. - TOYO Holdings LLC will contribute $19.96 million to TOYO Solar LLC for the Phase 1 construction of the manufacturing site [3]. Group 2: Facility and Production Plans - The newly leased facility spans 567,140 square feet and is designed to accommodate 2.5 GW of solar module manufacturing capacity, with plans to expand to 6.5 GW by 2029 [2]. - The first 1 GW production is expected to commence by mid-2025, with an increase to 2.5 GW anticipated by the end of 2025 [2]. - The facility aims to meet the growing demand for American-made solar panels and contribute to sustainable energy solutions [2][4]. Group 3: Strategic Impact - The acquisition aligns with TOYO's mission to be closer to its U.S. clients and to address the demand for secure and sustainable energy solutions [2][4]. - The company aims to leverage its manufacturing excellence and established customer relationships to enhance its competitive advantage in the U.S. market [4]. - TOYO is committed to building a robust global solar supply chain that efficiently serves the U.S. market [3][4].

TOKYO, Nov. 18, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today provided an update on its anticipated business performance for the full year 2024, and announced preliminary guidance for 2025, reflecting the Company's ongoing commitment to growth and innovation in the renewable energy sector.  2024 Performance Updates: Projected Shipments: Cell shipments are expected to reach 1.7-1.8 GW in 2024, representing a slight decrease from the previously an ...