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TOYO Co., Ltd Secures Major Solar Cells Contract

TOYO Co., Ltd, a leader in solar solutions, has recently announced the signing of a $150 million contract to supply high-performance solar cells to a prominent manufacturer in the solar module industry. This contract demonstrates TOYO's ongoing commitment to sustainable energy and its pivotal role in the shift towards renewable resources.

The terms of this agreement specify that TOYO will deliver its advanced solar cells to enhance the production capabilities of its partner in both India and the United States. Utilizing state-of-the-art manufacturing facilities in Vietnam and Ethiopia, TOYO is set to provide superior solar cells designed to optimize the efficiency and performance of solar modules.

Mr. Junsei Ryu, the CEO and Chairman of TOYO, expressed enthusiasm about this collaboration, emphasizing, "Partnering with such a well-respected entity in the solar industry is a significant opportunity for TOYO. This contract signifies a crucial advancement in our positioning within the solar energy market. Our innovative solar cells aim to deliver exceptional efficiency, thereby assisting our customers in achieving their sustainability targets and promoting the global adoption of solar energy."

The agreement is not just about expanding TOYO's production capabilities; it also aligns with the company's mission to deliver high-quality solar products that meet the dynamic needs of its clientele. The anticipated benefits include increased production capacity and a fortified market standing for TOYO, positioning the company as a key contributor to solar energy advancements.

About TOYO Co., Ltd

TOYO Co., Ltd is dedicated to becoming a comprehensive solar solutions provider in the global market. The company integrates various stages of the solar power supply chain, from the upstream production of wafers and silicon to midstream solar cell manufacture and downstream photovoltaic module production. This integrated approach allows TOYO to deliver high-quality solar cells at competitive scales and costs, establishing itself as a substantial player in the renewable energy sector.

In summary, this opportunity marks a significant milestone in the solar energy landscape as TOYO aims to streamline the integration of renewable energy solutions in its offerings. The collaboration represents not only a financial boost for TOYO but also contributes positively toward global sustainability efforts. With such ambitious engagements, TOYO is set to amplify its impact in the energy sector, driving forward the adoption of solar technology.

This press release may contain forward-looking statements regarding the future performance and positioning of TOYO Co., Ltd. These statements are made based on the current expectations of TOYO's management and are subject to certain risks and uncertainties.