TOYO Co., Ltd Secures $150 million Contract to Supply Solar Cells to a Leading Solar Module Manufacturer
TOYO Co., has secured a $150 million contract to supply high-efficiency solar cells to a leading solar module manufacturer. The agreement involves delivering solar cells from TOYO's manufacturing facilities in Vietnam and Ethiopia to support the customer's module production in India and the U.S. According to CEO Junsei Ryu, this contract represents a significant milestone in positioning TOYO as a key supplier in the solar energy market. The deal is expected to increase production capacity and strengthen the company's market position.
TOYO Co., ha ottenuto un contratto di 150 milioni di dollari per fornire celle solari ad alta efficienza a un importante produttore di moduli solari. L'accordo prevede la consegna delle celle solari dagli stabilimenti di produzione di TOYO in Vietnam e in Etiopia per supportare la produzione di moduli del cliente in India e negli Stati Uniti. Secondo il CEO Junsei Ryu, questo contratto rappresenta una pietra miliare significativa nel posizionamento di TOYO come fornitore chiave nel mercato dell'energia solare. Si prevede che l'accordo aumenti la capacità produttiva e rafforzi la posizione di mercato dell'azienda.
TOYO Co., ha asegurado un contrato de 150 millones de dólares para suministrar células solares de alta eficiencia a un importante fabricante de módulos solares. El acuerdo implica la entrega de células solares desde las instalaciones de fabricación de TOYO en Vietnam y Etiopía para apoyar la producción de módulos del cliente en India y en EE.UU. Según el CEO Junsei Ryu, este contrato representa un hito significativo en el posicionamiento de TOYO como proveedor clave en el mercado de la energía solar. Se espera que el acuerdo aumente la capacidad de producción y fortalezca la posición en el mercado de la empresa.
TOYO Co., 는 유력한 태양광 모듈 제조업체에 고효율 태양광 셀을 공급하기 위해 1억 5천만 달러 계약을 체결했습니다. 이번 계약은 TOYO의 베트남과 에티오피아 제조 시설에서 태양광 셀을 공급하여 고객의 모듈 생산을 지원하는 내용을 포함하고 있습니다. Junsei Ryu CEO에 따르면, 이 계약은 TOYO를 태양광 에너지 시장의 주요 공급업체로 자리매김하는 중요한 이정표로 의미합니다. 이번 거래는 생산 능력을 증가시키고 회사의 시장 위치를 강화할 것으로 예상됩니다.
TOYO Co., a obtenu un contrat de 150 millions de dollars pour fournir des cellules solaires à haute efficacité à un fabricant de modules solaires de premier plan. L'accord prévoit la livraison de cellules solaires depuis les installations de fabrication de TOYO au Vietnam et en Éthiopie pour soutenir la production de modules du client en Inde et aux États-Unis. Selon le PDG Junsei Ryu, ce contrat représente une étape importante dans le positionnement de TOYO en tant que fournisseur clé sur le marché de l'énergie solaire. Cet accord devrait augmenter la capacité de production et renforcer la position de l'entreprise sur le marché.
TOYO Co., hat einen Vertrag über 150 Millionen Dollar zur Lieferung von hocheffizienten Solarzellen an einen führenden Hersteller von Solarmodulen gesichert. Vereinbart wurde die Lieferung von Solarzellen aus den Produktionseinrichtungen von TOYO in Vietnam und Äthiopien, um die Modulproduktion des Kunden in Indien und den USA zu unterstützen. Laut CEO Junsei Ryu stellt dieser Vertrag einen bedeutenden Meilenstein dar, um TOYO als wichtigen Lieferanten im Solarmarkt zu positionieren. Es wird erwartet, dass die Vereinbarung die Produktionskapazität erhöht und die Marktposition des Unternehmens stärkt.
- Secured major $150 million contract for solar cell supply
- Geographic expansion into multiple markets (India and U.S.)
- Expected increase in production capacity
- Strengthened market position in solar energy sector
- None.
Insights
This
The secured revenue stream should strengthen TOYO's financial position and provide better visibility for future earnings. Manufacturing across multiple locations helps mitigate supply chain risks and positions them closer to end markets. This geographic diversification, combined with the contract's size, suggests potential margin improvements through economies of scale. The partnership with a prominent module manufacturer could lead to additional orders and enhanced market credibility.
This contract signals strong demand in the rapidly expanding solar market, particularly in India and the U.S., two key growth regions for solar deployment. The U.S. market is being driven by the Inflation Reduction Act incentives, while India's ambitious renewable energy targets create substantial opportunities. The customer's dual-market presence suggests a robust distribution strategy that could benefit TOYO's long-term growth.
The focus on high-efficiency cells positions TOYO in the premium segment of the market, where margins are typically higher and competition is less intense than in standard efficiency products. The emphasis on efficiency improvements aligns with industry trends toward higher-performance modules, which are increasingly preferred for utility-scale projects where space optimization is crucial.
Under the terms of the agreement, TOYO will deliver its cutting-edge solar cells to support the customer's expanding solar module production both in
"We are excited to partner with a highly respected player in the solar industry," said Mr. Junsei Ryu, CEO and Chairman of TOYO. "This contract marks a major milestone for positioning TOYO as a key supplier in the solar energy market. Our advanced solar cells are designed to deliver superior efficiency and performance, helping our customer meet their sustainability goals and drive the adoption of solar energy worldwide."
This opportunity not only allows TOYO to expand its production capabilities but also reinforces its mission to provide high-quality solar products that meet the evolving needs of our customers. The agreement is expected to yield significant benefits, including increased capacity for production and a strengthened market position.
About TOYO Co., Ltd.
TOYO is a solar solutions company that is committed to becoming a full-service solar solutions provider in the global market, integrating the upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include but are not limited to, statements regarding the expected growth of TOYO, the expected order delivery of TOYO, TOYO's construction plan of manufactures, and strategies for building up an integrated value chain in the
The forward-looking statements in this press release involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Although TOYO believes that it has a reasonable basis for each forward-looking statement contained in this press release, TOYO cautions you that these forward-looking statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the documents filed by TOYO from time to time with the Securities and Exchange Commission (the "SEC"). These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements in this press release.
TOYO cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to several risks and uncertainties, including, among others, the outcome of any potential litigation, government or regulatory proceedings, the sales performance of TOYO, and other risks and uncertainties, including but not limited to those included under the heading "Risk Factors" in the filings of TOYO with the SEC. There may be additional risks that TOYO does not presently know or that TOYO currently believes are immaterial that could also cause actual results to differ from those contained in these forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of TOYO as of the date of this press release. Subsequent events and developments may cause those views to change. However, while TOYO may update these forward-looking statements in the future, there is no current intention to do so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements to represent the views of TOYO as of any date subsequent to the date of this press release. Except as required by law, TOYO does not undertake any duty to update these forward-looking statements.
Contact Information:
For TOYO Co., Ltd.
IR@toyo-solar.com
Crocker Coulson
Email: crocker.coulson@aummedia.org
Tel: (646) 652-7185
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SOURCE TOYO Co., Ltd
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