First Solar, Inc. - FSLR STOCK NEWS

Verde Clean Fuels (NASDAQ: VGAS) has appointed George Burdette as Chief Financial Officer. Burdette brings over 15 years of experience in finance, commercial operations, corporate development, and investment management. CEO Ernie Miller expressed confidence in Burdette's ability to advance the company's plans for deploying its proprietary liquid fuels processing technology through commercial production plants.

Burdette's previous roles include CFO at Arbor Renewable Gas and Itafos, as well as head of project finance at First Solar. He has experience in energy infrastructure and private equity, holding a Bachelor's degree in International Business and French from Wofford College and an International MBA from the University of South Carolina.

First Solar, Inc. (NASDAQ: FSLR) has announced that it will release its third quarter 2024 financial results on Tuesday, October 29, 2024, after the market closes. The company will host a conference call on the same day at 4:30 PM ET to discuss the results. Investors and interested parties can access the live webcast of the call through the investor section of First Solar's website. A replay of the webcast will be available until Thursday, November 28, 2024, approximately two hours after the call concludes.

First Solar, Inc. (Nasdaq: FSLR) has inaugurated its new $1.1 billion fully vertically integrated thin-film solar manufacturing facility in Lawrence County, Alabama. The facility adds 3.5 gigawatts (GW) of solar manufacturing capacity in the United States and is expected to create over 800 new energy technology manufacturing jobs in the state.

This new facility, along with First Solar's three operating factories in Ohio, brings the company's domestic nameplate manufacturing capacity to nearly 11 GW and its global capacity to over 21 GW. First Solar is also constructing another $1.1 billion, 3.5 GW facility in Louisiana, expected to be commissioned in the second half of 2025. By the end of 2026, the company anticipates having over 14 GW of annual nameplate capacity in the US and 25 GW globally.

First Solar, Inc. (Nasdaq: FSLR) has set new industry benchmarks in sustainable solar technology, as detailed in its 2024 Sustainability Report. The company's Series 6 Plus and Series 7 TR1 modules are the world's first to achieve EPEAT Climate+ ultra low-carbon designation. First Solar leads in high-value solar recycling with a 95% global average material recovery rate and operates facilities across five countries. The company received top ratings in the 2023 Renewable Energy Human Rights Benchmark report and achieved platinum status in social audits across its global manufacturing footprint. First Solar is expanding its manufacturing capacity from 16 GW in 2023 to over 25 GW by 2026, with new facilities in Alabama and Louisiana.

National Grid Renewables has begun construction on the Dodson Creek Solar Project in Highland County, Ohio. This 117 MW project, located in the PJM market, is expected to generate $49 million in direct economic benefits for the local community. It's the company's fourth project in Ohio and second in Highland County, contributing to a total 558.5 MW portfolio in the state.

The project will create approximately 200 construction jobs and is contracted with Kiewit as the EPC partner. It will use First Solar's Series 7 modules, manufactured in Ohio. Once operational in mid-2025, Dodson Creek is anticipated to produce $21 million in new tax revenue for local entities and avoid an estimated 198,400 metric tons of CO2 emissions annually. National Grid Renewables has also pledged $585,000 to Highland County charities through a dedicated fund.

First Solar (FSLR) reported strong Q2 2024 financial results, with net sales of $1.0 billion, up $0.2 billion from Q1, and net income per diluted share of $3.25, compared to $2.20 in Q1. The company maintains its full-year 2024 guidance, projecting net sales of $4.4B to $4.6B and earnings per diluted share of $13.00 to $14.00. First Solar's net cash balance decreased to $1.2 billion from $1.4 billion in Q1, primarily due to capital expenditures for new U.S. factories.

The company reported year-to-date net bookings of 3.6 GW, with 0.9 GW since the Q1 earnings call, at an average selling price of 31.6 cents per watt. First Solar's expected sales backlog stands at an impressive 75.9 GW. The company continues to focus on balanced growth, profitability, and liquidity, leveraging its technological and business model differentiation.

First Solar (NASDAQ: FSLR) has announced its ownership of patents related to Tunnel Oxide Passivated Contact (TOPCon) crystalline-silicon photovoltaic solar cell manufacturing. These patents, acquired through the 2013 purchase of TetraSun, are valid in multiple countries including the United States, Canada, China, and Japan, with validities extending to 2030. First Solar is initiating an investigation into potential patent infringement by several crystalline silicon solar manufacturers.

The company is evaluating options to protect its intellectual property, including asserting patent rights against potential infringers. First Solar's Executive VP and General Counsel, Jason Dymbort, emphasized the company's commitment to leveraging these patents in developing next-generation PV technologies across multiple semiconductor platforms.

First Solar (Nasdaq: FSLR) has commissioned the Jim Nolan Center for Solar Innovation in Lake Township, Ohio, the largest solar R&D facility in the Western Hemisphere. This 1.3 million square foot center, part of a $500 million investment in R&D infrastructure, includes a high-tech pilot manufacturing line for full-sized thin film and tandem PV module prototypes.

The company also announced a new world record of 23.1% efficient CdTe cells, certified by NREL. First Solar plans to expand its global manufacturing capacity from 16.6 GW in 2023 to over 25 GW by 2026, with 14 GW in the US. These investments are expected to create about 300 new R&D jobs by 2025 and support an estimated 30,060 direct, indirect, and induced jobs across the US by 2026.

First Solar (NASDAQ: FSLR) will announce its financial results for the second quarter ending June 30, 2024, on July 30, 2024. The company will release the results after the market closes, with a conference call scheduled for 4:30 PM ET that day. The live webcast and its replay will be available on the company's investor website.