TOKYO, Nov. 26,
2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO)
("TOYO" or the "Company"), a solar solution company, is pleased to
announce the execution of a significant contract valued at
$150 million to supply high
efficiency solar cells to a prominent solar module
manufacturer. This landmark agreement underscores the
Company's commitment to advancing sustainable energy and supporting
the global transition towards renewable resources.
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 India
and in the U.S. The contract will enable TOYO to leverage its
state-of-the-art manufacturing capabilities and innovative
technologies both in Vietnam and
Ethiopia to deliver premium solar
cells that enhance the efficiency and performance of solar
modules.
"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
U.S. These forward-looking statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of TOYO's management and are not
predictions of actual performance.
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