Singapore’s Evervolt sells its TOPCon solar patents to US-based T1 Energy for $135 M
For a total payment of $135 million, Singapore-based Evervolt Green Energy Holding sold core solar patents and other intellectual property to US-based solar manufacturer T1 Energy (NYSE: TE).
The patents pertain to Tunnel Oxide Passivated Contact (TOPCon) solar cells and modules, which T1 had previously obtained from Evervolt, according to a statement released by T1 Energy on Tuesday.
T1 first paid $2 million in cash to get the right to buy the assets under the terms of the payment plan. The remaining $133 million must be paid in four installments by October 2026.
Owning the intellectual property rights to the solar technology is a crucial step in differentiating the company’s competitive position as a vertically integrated crystalline silicon US solar manufacturer, according to Dan Barcelo, Chairman and CEO of T1 Energy. The CEO noted that in addition to providing commercial and strategic advantages, intellectual property can also become economically accretive.
Due to higher-than-expected production and sales at its G1_Dallas facility, T1 Energy recorded quarterly net income from continuing operations of $3.9 million and adjusted EBITDA of $9.1 million in the first quarter of 2026. According to T1 Energy’s quarterly evaluation, work on the first 2.1GW phase of G2_Austin is moving forward according to plan.
