T1 Energy Acquires Advanced Solar Technology IP from Evervolt for $135 Million

T1 Energy Inc. has entered into an agreement to acquire foundational solar patents and other intellectual property (IP) from Evervolt Green Energy for a total consideration of $135 million. The acquired IP, which relates to advanced TOPCon solar cell and module technology, was previously licensed by T1 Energy. This acquisition eliminates future royalty payments and supports the company's strategy to build a vertically integrated U.S. solar supply chain.

Key Details

• Transaction Value: Total consideration is $135 million, which includes a $2 million option premium and a $133 million purchase price payable in four tranches through October 30, 2026.
• Payment Terms: Payments can be made in cash or common stock at T1 Energy's discretion. The company intends to pay the first $60 million tranche by issuing common stock.
• Strategic Impact: The acquired IP pertains to Tunnel Oxide Passivated Contact (TOPCon) solar technology. This agreement transitions T1 Energy from a licensee to an owner of the IP, eliminating future royalty obligations and strengthening its competitive position.