On May 15th, Universal News Agency reported that T1 Energy announced the signing of a non-binding letter of intent (LOI) with Saudi Arabia’s Manaar Gulf Saudi Arabia Ltd., with plans to jointly invest in the G2_Austin solar cell factory located in Austin, Texas. The project aims for a production capacity of 5GW, marking a pivotal step in T1 Energy’s energy manufacturing strategic layout in the United States.
At the signing ceremony, Daniel Barcelo, CEO of T1 Energy, emphasized the urgent need for the United States to establish a domestic solar supply chain. Leveraging its existing G1_Dallas facility in Dallas and the upcoming G2_Austin project, T1 Energy is committed to becoming a leader in the U.S. solar industry.
It is understood that T1 Energy Inc. was formerly FREYR Battery, a Norwegian lithium battery enterprise. From the fourth quarter of 2024 to early 2025, the company successfully completed a strategic transformation, rebranding as T1 Energy and relocating its headquarters from Georgia to Austin, Texas. The company has shifted its business focus entirely to photovoltaics and energy storage systems, aiming to become a vertically integrated energy solutions provider in the United States. In December 2024, through a transformative transaction, the company ascended to the ranks of leading U.S. solar manufacturers. Currently, its operational and planned production capacities cover solar cells, modules, and energy storage systems, with plans to expand its business nationwide while optimizing the value of its European assets.
Daniel Barcelo stressed that the collaboration with Saudi Manaar Gulf Saudi Arabia Ltd. represents a significant milestone in introducing strategic capital to support advanced manufacturing in the United States, accelerating T1 Energy’s ambitious goal of becoming an industry leader based on domestic resources and cutting-edge technologies. The 5GW G2_Austin project, as a key manufacturing layout for T1 Energy in the U.S., will not only generate substantial employment opportunities but also drive the development of the U.S. manufacturing sector.
