TOYO (TOYO) Company Report

Analyst Coverage

Research analysts covering TOYO.

Recent press releases and 8-K filings for TOYO.

TOYO Secures Strategic Polysilicon Supply with U.S. Manufacturer

TOYO

New Projects/Investments

TOYO Co., Ltd. announced a one-year sales contract with a U.S. polysilicon manufacturer to secure domestically sourced critical raw materials for its solar manufacturing operations.
This agreement strengthens TOYO's dual-source supply strategy, combining U.S.-sourced polysilicon with existing non-Foreign Entity of Concern (FEOC) overseas supply.
The partnership supports TOYO's cell manufacturing in Ethiopia and module production in the United States, aligning with U.S. regulatory expectations and supporting U.S. market expansion.

Jan 8, 2026, 10:47 PM

TOYO Secures U.S. Polysilicon Supply

TOYO

New Projects/Investments

TOYO Co., Ltd has signed a one-year sales contract with a U.S. polysilicon manufacturer to secure domestically sourced critical raw materials for its solar manufacturing operations.
This agreement strengthens TOYO's dual-source strategy, combining U.S.-sourced polysilicon with existing non-Foreign Entity of Concern (FEOC) overseas supply.
The partnership supports TOYO's cell manufacturing in Ethiopia and module production in the United States, enhancing alignment with U.S. regulatory expectations and supporting market objectives.

Jan 7, 2026, 1:30 PM

TOYO acquires full ownership of TOYO Solar LLC

TOYO

M&A

New Projects/Investments

On December 8, 2025, TOYO Co., Ltd. announced it has acquired the remaining 24.99% membership interest in its U.S. subsidiary, TOYO Solar LLC, making it a wholly owned subsidiary.
This transaction strengthens TOYO's operational control and aligns with its U.S. growth strategy, reinforcing its commitment to the American solar supply chain.
TOYO Solar LLC is currently advancing the development of a 2.5GW solar module manufacturing facility in Texas.

Dec 8, 2025, 1:30 PM

TOYO and Voltec Solar Forge Strategic Partnership

TOYO

New Projects/Investments

TOYO Co., Ltd. has entered into a strategic partnership with Voltec Solar, a French photovoltaic panel manufacturer, marking TOYO's entry into the European market.
Under the agreement, TOYO will become Voltec Solar's official solar cell supplier, providing high-performance, low-carbon cell technology that has enabled Voltec Solar to obtain carbon footprint certification.
This collaboration reflects both companies' shared commitment to innovation, sustainability, and alignment with the EU Net-Zero Industry Act, supporting TOYO's integration into global supply chains.

Nov 3, 2025, 1:30 PM

TOYO's Houston Solar Module Facility Commences Commercial Operations

TOYO

New Projects/Investments

Product Launch

TOYO's new solar module manufacturing facility in Houston received its Certificate of Occupancy on October 13, 2025, officially commencing full commercial operations.
The facility is designed to produce up to 1 GW of high-efficiency solar modules annually and anticipates robust demand from U.S. clients and utility-scale developers.
The Houston Facility is expected to qualify for Section 45X tax incentives, providing up to $0.07 per watt in production credits through 2030, which will strengthen TOYO's cost competitiveness.

Oct 14, 2025, 12:30 PM

TOYO Co., Ltd. Reports Q2 2025 Results Amidst Liquidity Concerns and New Business Developments

TOYO

Earnings

New Projects/Investments

Debt Issuance

TOYO Co., Ltd. reported revenues of $139,105,223 for the six months ended June 30, 2025, a slight increase from $138,077,995 in the prior year period, but net income significantly decreased to $2,501,736 from $19,550,448.
The company faces significant liquidity challenges, with a working capital deficit of approximately $131.4 million as of June 30, 2025, which raises substantial doubt about its ability to continue as a going concern.
TOYO Texas entered into a module supply and purchase agreement with New Leaf Energy Buyer, Inc. for approximately $60 million, with the term expiring on December 31, 2025.
New manufacturing plants in Ethiopia and Texas commenced operations in March and June 2025, respectively, supporting business expansion.