US-based solar manufacturer T1 Energy (NYSE: TE) has acquired foundational solar patents and other intellectual property from Singapore-based Evervolt Green Energy Holding for a total consideration of $135 million.
In a statement on Tuesday, T1 Energy said the patents are related to Tunnel Oxide Passivated Contact (TOPCon) solar cells and modules, which T1 had previously licensed from Evervolt.
Under the payment structure, T1 initially paid $2 million in cash to secure the right to acquire the assets. The remaining $133 million is payable in four installments due October 2026.
Dan Barcelo, Chairman and CEO of T1 Energy, said owning the intellectual property rights to the solar technologies is an important step to differentiate the company’s competitive position as a vertically integrated crystalline silicon US solar manufacturer. The intellectual property can become economically accretive in addition to yielding commercial and strategic benefits, the executive added.
T1 Energy reported quarterly net income from continuing operations of $3.9 million and adjusted EBITDA of $9.1 million in the first quarter of 2026, driven by higher than forecast production and sales at its G1_Dallas facility. Construction on the first 2.1GW phase of G2_Austin is proceeding on schedule, T1 Energy said it its quarterly review.