#United States #solar cells #Baytown #Talon PV #T1 Energy

Talon PV Partners with T1 Energy to Boost U.S. Solar Manufacturing

Talon PV LLC, an advanced solar cell manufacturing company, recently announced a monumental step forward with the sale of a minority stake to T1 Energy Inc. This strategic partnership aims to accelerate the growth of U.S. solar production capabilities, particularly with the establishment of a state-of-the-art facility in Baytown, Texas.

The agreement involves T1 Energy executing a Simple Agreement for Future Equity (SAFE), securing its minority ownership interest in Talon PV. Prior to this partnership, the Eagle Group, a venture capital firm based in Houston, Texas, provided the initial funding needed for Talon’s operational expansion. This financial backing has enabled Talon to gain momentum and move toward finalizing its capital stack with various partners going forward.

The ambitious project in Baytown is geared towards the development of a 4.8 gigawatt (GW) high-efficiency TOPCon solar cell manufacturing facility. This move is expected to significantly enhance domestic solar production capacity in the U.S., catering to increasing demands for renewable energy and aligning with national objectives for energy security and domestic manufacturing. The facility is designed to produce n-type TOPCon cells, which represent one of the most advanced photovoltaic (PV) technologies commercially available in the United States. Furthermore, the project has already garnered $97.1 million in tax incentives from both state and local governments, underscoring its economic significance.

The TALON PV Baytown Project is anticipated to achieve commercial viability by the first quarter of 2027. In conjunction with T1 Energy's investment, Talon PV is actively forming partnerships with leading firms in the industry to facilitate research and development (R&D) as well as the construction of the facility. Notably, Talon has joined forces with Fraunhofer ISE, a prominent solar energy research institute, to spearhead technological advancements and R&D initiatives. Additionally, the construction of the solar cell manufacturing facility will be overseen by ARCO Murray, a top design-build contractor well-versed in the photovoltaic sector.

In light of this significant partnership, Adam Tesanovich, Co-Founder and CEO of Talon PV, expressed his enthusiasm: "This milestone with T1 Energy marks a pivotal step in TALON PV's journey to scale U.S. solar-cell manufacturing. The investment validates our technology roadmap and strengthens our commercial foundation as we move into project financing."

Adding to this sentiment, Gerry Willinger, Managing Director at Marathon Capital, which acted as the exclusive financial advisor for Talon during this transaction, stated, "We are proud to have supported Talon in this milestone transaction with T1 Energy. Both companies share a vision for scaling advanced solar cell production domestically, which will help strengthen U.S. energy security and create high-value manufacturing jobs in Texas."

Furthermore, Patrick Brandt, Vice President at Marathon Capital, highlighted the broader implications of this partnership: "This transaction reflects the rapid growth of U.S. solar manufacturing post-Big Beautiful Bill and emphasizes the importance of strategic partnerships with key supply chain players like T1 in scaling gigawatt-level capacity."

The collaboration between Talon PV and T1 Energy marks a defining moment in the burgeoning landscape of U.S. renewable energy manufacturing. As both entities work together towards a sustainable energy future, this partnership is poised to have a lasting impact on the American solar industry and contribute to the nation's clean energy objectives.

In summary, the establishment of the 4.8 GW TOPCon solar cell manufacturing facility in Baytown, Texas, under the auspices of Talon PV and T1 Energy signifies a hopeful stride toward a greener future as the country seeks to bolster its renewable energy sources and manufacturing capabilities.