T1 Energy Business Summary

T1 Energy Inc. (TE), formerly known as FREYR Battery, Inc., operates as a vertically integrated energy solutions provider specializing in the domestic manufacturing and commercialization of photovoltaic (PV) solar modules and battery storage technologies. The company generates revenue primarily through the direct sale of PV modules to utility-scale, commercial, and industrial customers, leveraging a strategic pivot toward a U.S.-centric supply chain following its 2024 acquisition of Trina Solar’s domestic manufacturing assets. Its business is segmented into solar module production, centered on its 5 GW G1 facility in Dallas, and the development of advanced solar cell manufacturing at its G2 site in Austin. T1 Energy competes directly with major solar and energy technology firms such as First Solar, Canadian Solar (CSIQ), and Enovix (ENVX). Within this landscape, T1 Energy positions itself as a high-growth onshoring play, utilizing Inflation Reduction Act (IRA) tax credits and domestic content incentives to challenge established international incumbents through a localized, secure energy value chain. T1 Energy was founded by Tore Ivar Slettemoen and Peter Matrai, who both continue to serve on the board and provide deep expertise in scaling energy transition technologies. The leadership team is led by CEO and Chairman Daniel Barcelo, a veteran investment professional with a pedigree at Moore Capital Management and Lehman Brothers, who also founded Alussa Energy. He is supported by Chief Technology Officer Andreas Bentzen, a co-founder of the European solar leader Otovo, and Chief Financial Officer Joseph Evan Calio, who brings over 30 years of Wall Street experience from BTIG and Morgan Stanley. Other key executives include COO Jaime Gualy and the recently appointed Chief Accounting Officer Tom Mahrer, formerly of Valero Energy. The company’s board features notable institutional representation, including Todd Kantor, founder of Encompass Capital Advisors, and Jessica Wirth Strine, a former senior director at Vanguard, reflecting a sophisticated investor base focused on the intersection of traditional energy markets and renewable infrastructure.