T1 Energy revenue surges 232% to $178M; raises $184M in convertible debt for Texas cell fab

Filed May 12, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~2 min read

Key Changes

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  Q1 2026 revenue jumped 232% year-over-year to $177.6M as G1_Dallas module production reached full scale. Company raised $184M in 4% convertible notes due 2031 in April to fund operations and G2_Austin cell fab construction.

  MD&A: Revenue and Financing verify on EDGAR →
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  Company began construction on 2.1-gigawatt G2_Austin solar cell fab in Texas (December 2025), expected to start production by end of 2026. Estimated capex $400-425M for phase one, with potential for 8 gigawatts across three phases.

  MD&A: G2_Austin Construction verify on EDGAR →
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  Extensive restructuring of Trina Solar relationship to comply with OBBBA restrictions: reduced Trina debt holdings below threshold, removed officer appointment rights, transferred IP licensing to Evervolt, and sourced MA-compliant solar cells to maintain IRA tax credit eligibility.

  MD&A: OBBBA Compliance verify on EDGAR →