Latest news with #DanielBarcelo
Yahoo
5 days ago
- Business
- Yahoo
Yates to provide preconstruction services for T1's Texas solar cell facility
Energy solutions provider T1 Energy has appointed Yates Construction for preconstruction services and site preparations for its $850m G2_Austin 5GW solar cell facility in the US. The commissioners of Milam County, Texas, have unanimously voted to offer T1 Energy a long-term tax abatement package, contingent upon the company meeting or surpassing specific employment and investment benchmarks at the facility. The solar facility is anticipated to start production by the end of 2026 and generate up to 1,800 full-time jobs. G2_Austin is a component of T1 Energy's strategy to establish a domestic solar and battery supply chain. According to T1, this initiative aims to provide the US with 'scalable' and 'low-cost' energy solutions. The project is a response to the Trump Administration's tariffs and policies that support American advanced manufacturing, jobs, and energy dominance, stated the energy solutions supplier. T1 CEO and board chairman Daniel Barcelo said: 'Solar energy is a foundational part of American power grids. Our facilities will manufacture solar cells and modules to invigorate our economy with abundant energy. We're excited to work with Yates and Milam County to bring American advanced manufacturing to the heart of Texas and to unlock our most scalable energy resources'. In conjunction with the company's operational G1_Dallas 5GW solar module facility, T1 Energy plans to meet the increasing demand for US-made solar cells and modules, utilising advanced TOPCon technology. T1 Energy has engaged Yates to deliver preconstruction services for G2Austin and expects to finalise the commercial terms to confirm the company's appointment as general contractor for the project. Yates Construction joins SSOE Group, an architecture and engineering company that has been involved in project engineering for G2_Austin since December 2024. Yates Construction President and CEO William G Yates III said: "We look forward to working with T1 Energy and leveraging our extensive experience in advanced manufacturing facility construction. This is an exciting project, and Yates Construction is committed to being a collaborative partner throughout the execution of the project." "Yates to provide preconstruction services for T1's Texas solar cell facility" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
5 days ago
- Business
- Yahoo
T1 Energy advances $850m solar cell facility development in US
T1 Energy has announced the next step in the development of its $850m G2_Austin 5GW solar cell facility with the selection of Yates Construction for preconstruction and site preparation services. The development of G2_Austin is integral to T1's broader strategy of establishing a domestic supply chain for solar and battery technology, enabling the US to access scaleable, dependable and cost-effective energy solutions. T1 intends to meet growing demand within the US market for solar cells and modules that utilise TOPCon technology through the G2_Austin, along with its operational counterpart, the G1_Dallas 5GW solar module facility. The project is facilitated by the tariffs and other policies implemented by the Trump administration, which support American advanced manufacturing, job creation and energy dominance. The Milam County commissioners in Texas have unanimously agreed to offer T1 Energy a substantial tax abatement package, contingent on the company achieving certain employment and investment milestones at the new facility. T1 CEO and board chairman Daniel Barcelo stated: 'Solar energy is a foundational part of American power grids. Our facilities will manufacture solar cells and modules to invigorate our economy with abundant energy. We're excited to work with Yates and Milam County to bring American advanced manufacturing to the heart of Texas and to unlock our most scalable energy resources.' Yates Construction's engagement extends beyond preconstruction duties as T1 Energy anticipates finalising terms with them as the general contractor. The company joins SSOE Group, which has been providing project engineering services for the project since December 2024. The G2_Austin facility will commence cell production by late 2026 and is expected to generate up to 1,800 full-time positions. Yates Construction president and CEO William G Yates III stated: 'We look forward to working with T1 Energy and leveraging our extensive experience in advanced manufacturing facility construction. "This is an exciting project, and Yates Construction is committed to being a collaborative partner throughout the execution of the project." In May 2025, T1 Energy entered into a heads of agreement with Saudi partner Manaar Gulf Saudi Arabia, to explore an investment in the proposed G2_Austin 5GW solar cell manufacturing facility. "T1 Energy advances $850m solar cell facility development in US" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
T1 Energy Take Steps to Bring Investment to G2_Austin Solar Cell Project
Working with a Saudi partner aligned with the Kingdom of Saudi Arabia to explore a potential strategic investment in G2_Austin AUSTIN, Texas, May 15, 2025 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE: TE) ('T1,' 'T1 Energy,' or the 'Company') announced this morning that the Company has entered into a Heads of Agreement to pursue an investment in the planned G2_Austin 5 GW solar cell manufacturing facility. The non-binding agreement was signed this week at a ceremony in Riyadh hosted by the Saudi Ministry of Investment ('MISA') to commemorate the Trump administration's 'America First' program and the Kingdom's commitment to investing in critical U.S. energy infrastructure projects. 'We wish to extend our sincerest appreciation to the Saudi Ministry of Investment for hosting our delegation. We are honored to sign this landmark agreement which is intended to bring in strategic capital to support America's advanced manufacturing sector,' said Daniel Barcelo, T1's Chief Executive Officer and Chairman of the Board. 'The U.S. needs to establish a domestic solar manufacturing supply chain, and T1 is at the forefront of that mission with our world-class operating G1_Dallas facility and planned G2_Austin project. This agreement is a positive step towards an investment to accelerate our development plans and our strategy to become a U.S. solar energy leader built on domestic content and leading-edge technology.' Representatives from T1 and our Saudi partner, Manaar Gulf Saudi Arabia Ltd., signed the agreement on May 13th at a ceremony in Riyadh welcoming a U.S. delegation from the Trump administration and U.S. industrial partners to the Kingdom. The event promoted Gulf Corporation Council investment in America to support the 'America First' agenda. 'T1 is grateful to be part of a larger conversation to reshore American manufacturing through cooperative efforts with our overseas industrial partners,' added Daniel Barcelo. 'With this agreement in place, our teams will be working to secure this capital and advance T1's mission to bring investment, jobs, and key supply chains to America. As this relationship develops, we are also pleased to examine complementary opportunities to invest in the Kingdom's solar manufacturing sector.' 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 and follow us on social media. Investor contact: Jeffrey SpittelEVP, Investor Relations and Corporate +1 409 599 5706 Media contact: Russell GoldEVP, Strategic +1 214 616 9715 Cautionary Statement Concerning Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to: a potential investment in G2 Austin; the Company's ability to bring in strategic capital to support America's advanced manufacturing sector; the Company being at the forefront of the development of domestic solar manufacturing supply chains; the Company's development plans and strategy to become a U.S. solar energy leader built on domestic content and leading-edge technology; the investment by the Gulf Corporation Council in America to support the 'America First' agenda; T1's participation in the reshoring of American manufacturing; the Company's mission to bring investment, jobs and key supply chains to America; and any complementary opportunities that T1 may explore with respect to investments in the Kingdom's solar manufacturing sector. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results, or achievements to be materially different from the Company's expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, those discussed under the caption 'Risk Factors' in (i) T1's annual report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the 'SEC') on March 31, 2025, as amended and supplemented by Amendment No. 1 on Form 10-K/A filed with the SEC on April 30, 2025, (ii) T1's post-effective Amendment No. 1 to the Registration Statement on Form S-3 filed with the SEC on January 4, 2024, and (iii) T1's Registration Statement on Form S-4 filed with the SEC on September 8, 2023 and subsequent amendments thereto filed on October 13, 2023, October 19, 2023 and October 31, 2023. All of the above referenced filings are available on the SEC's website at Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, all of which are expressly qualified by the statements in this section, whether as a result of new information, future events or otherwise, except as required by law. 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.
Yahoo
10-03-2025
- Business
- Yahoo
With 32% ownership, T1 Energy Inc. (NYSE:TE) has piqued the interest of institutional investors
Significantly high institutional ownership implies T1 Energy's stock price is sensitive to their trading actions The top 10 shareholders own 51% of the company Recent sales by insiders To get a sense of who is truly in control of T1 Energy Inc. (NYSE:TE), it is important to understand the ownership structure of the business. With 32% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Since institutional have access to huge amounts of capital, their market moves tend to receive a lot of scrutiny by retail or individual investors. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future. Let's delve deeper into each type of owner of T1 Energy, beginning with the chart below. See our latest analysis for T1 Energy Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. As you can see, institutional investors have a fair amount of stake in T1 Energy. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see T1 Energy's historic earnings and revenue below, but keep in mind there's always more to the story. It looks like hedge funds own 8.6% of T1 Energy shares. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. Trina Solar Co., Ltd. is currently the company's largest shareholder with 9.9% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 8.6% and 5.8%, of the shares outstanding, respectively. Furthermore, CEO Daniel Barcelo is the owner of 3.2% of the company's shares. We also observed that the top 10 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. We can report that insiders do own shares in T1 Energy Inc.. It has a market capitalization of just US$218m, and insiders have US$20m worth of shares, in their own names. This shows at least some alignment. You can click here to see if those insiders have been buying or selling. With a 31% ownership, the general public, mostly comprising of individual investors, have some degree of sway over T1 Energy. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It seems that Private Companies own 9.2%, of the T1 Energy stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. It appears to us that public companies own 9.9% of T1 Energy. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further. While it is well worth considering the different groups that own a company, there are other factors that are even more important. Like risks, for instance. Every company has them, and we've spotted 3 warning signs for T1 Energy (of which 1 makes us a bit uncomfortable!) you should know about. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Associated Press
10-02-2025
- Business
- Associated Press
FREYR Battery Announces Austin, Texas as Location for New Corporate Headquarters
NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--Feb 10, 2025-- FREYR Battery (NYSE: FREY) ('FREYR' or the 'Company') announced this morning that the Company has selected Austin, Texas, as the location for its new global headquarters to geographically align the Company's workforce with its operations and strategy to provide solar modules made in the United States. This announcement coincides with the ongoing ramp of production at FREYR's G1 solar module facility in Wilmer, Texas, which already employs more than 1,000 people across the Wilmer and Dallas communities. Establishing Corporate Headquarters in Austin, Texas FREYR has selected Austin, Texas as the location for the Company's global headquarters in support of FREYR's corporate development, operations, and strategy. Austin is strategically located near FREYR's operating U.S. solar module manufacturing facility in Wilmer, Texas, and provides access to an emerging talent pool within the booming, business-friendly Texas economy to support the Company's growth aspirations. FREYR's global headquarters will be located at 1211 E 4 th St., Austin, TX 78746. 'Today marks another important step for FREYR as we execute our strategic plan to establish an integrated U.S. solar + battery storage manufacturing enterprise built on advanced technology,' commented Daniel Barcelo, FREYR's Chairman of the Board and Chief Executive Officer. 'Our global headquarters will be in Austin, Texas, which is a vibrant and fast-growing hub of renewable energy and advanced technology development, strategically located close to our operations. As we move forward with our strategy to build an integrated American solar + storage manufacturing network, we intend to bring more than 1,000 new American jobs to the Texas economy. We look forward to building our teams in Austin and Wilmer, establishing a Texas job creation engine, and working with our partners across industry and government to invest in critical U.S. infrastructure.' Sale of Coweta County Site in Georgia In conjunction with the Company's relocation to Texas, FREYR has entered into a definitive agreement to sell its 368-acre site in Coweta County, Georgia, to an undisclosed party for gross sales proceeds of $50 million. The transaction is expected to close on February 15, 2024. Estimated net proceeds to FREYR are expected to total $22.5 million following repayment of previously received state and local grants. About FREYR FREYR (NYSE: FREY) is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. In December 2024, FREYR completed a transformative transaction, positioning the Company as one of the leading solar manufacturing companies in the U.S., with a complementary solar and battery storage strategy. Based in the U.S. 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 FREYR, please visit and follow @FREYRBattery on social media. Cautionary Statement Concerning Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to the Company's operational performance and profitability (including its strategic objective to develop U.S.-made solar modules), any expected jobs created as a result of the establishment of the Company's headquarters in Austin, any other anticipated benefits or advantages of establishing the Company's headquarters in Austin and any expected timings of and proceeds from the sale of the Coweta County site. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results or achievements to be materially different from the Company's expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, those discussed under the caption 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the 'Form 10-K') and the Company's other filings with the SEC. Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. FREYR 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 FREYR's website in the 'Investor Relations' sections. FREYR also intends to use certain social media channels, including, but not limited to, X and LinkedIn, as means of communicating with the public and investors about FREYR, its progress, products, and other matters. While not all the information that FREYR posts to its digital platforms may be deemed to be of a material nature, some information may be. As a result, FREYR encourages investors and others interested to review the information that it posts and to monitor such portions of FREYR's website and social media channels on a regular basis, in addition to following FREYR's press releases, SEC filings, and public conference calls and webcasts. The contents of FREYR's website and other social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. KEYWORD: TEXAS NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: OTHER ENERGY SUSTAINABILITY BATTERIES ALTERNATIVE ENERGY ENERGY TECHNOLOGY ENVIRONMENT OTHER MANUFACTURING GREEN TECHNOLOGY PACKAGING OTHER TECHNOLOGY MANUFACTURING SOURCE: FREYR Battery Copyright Business Wire 2025. PUB: 02/10/2025 06:01 AM/DISC: 02/10/2025 06:02 AM
