T1 Energy acquires solar IP to eliminate royalty costs
The company reported record quarterly net income from continuing operations of $3.9 million.
T1 Energy (TE), the solar technology manufacturer, acquired foundational solar patents and intellectual property for TOPCon solar cells from Evervolt for $135 million.
The transaction, completed July 28, 2026, was intended to eliminate future royalty payments for the company. This move follows a period of scaling production and improving operational efficiency across its manufacturing sites.
T1 reported record quarterly net income from continuing operations of $3.9 million and record adjusted EBITDA of $9.1 million in the first quarter of 2026. These results followed a strong fourth quarter in 2025, during which the G1_Dallas facility achieved record quarterly module production of 1.13 GW and record net sales of $358.5 million.
Capital requirements for expansion shifted during the first half of the year. Estimated remaining capital spending for G2_Austin Phase 1 decreased to approximately $225 million as of May 12, 2026, down from the $350 million reported on March 31, 2026.
Demand for the company's output remains high. Indicative customer demand for G1 and G2 offtakes covered more than 100% of anticipated production capacity for 2027-2028 as of May 12, 2026.
T1 maintained its 2026 production guidance for G1_Dallas at 3.1 GW to 4.2 GW.