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2 clusters · 3 sources · 19 days · First seen · Last updated

TOYO solar manufacturing expansion in the United States

Overview

TOYO Co., Ltd. has expanded its solar manufacturing footprint in the United States, specifically through the construction of a heterojunction (HJT) solar-cell facility in Houston, Texas. To comply with U.S. regulatory requirements regarding foreign entities of concern, the company is restructuring its supply chain to source polysilicon from the United States or Korean-owned OCI.

Following the announcement of its Texas expansion and a reported reversal from previous losses to a net income of $28.4 million in the first quarter, analysts upgraded the company’s stock to “Buy.”

By the first half of 2026, TOYO reported significant financial growth, with revenue reaching $261 million, an 87.6% increase over the previous year. This growth was largely driven by the U.S. market, which accounted for approximately 80.7% of total H1 revenue. The company’s Texas module facility contributed $31.7 million to Q2 2026 revenue, contributing to a first-half net income of $45.8 million.

Entities

United States · Japan · TOYO Co., Ltd. · Texas · Rhone Resch

Timeline

  1. 24 days ago

    [BUSINESS] 3 sources
    TOYO Co., Ltd. reports significant H1 2026 profit and revenue growth

    Solar manufacturer TOYO Co., Ltd. reported an 87.6% increase in H1 2026 revenue to $261 million, driven by strong US sales and module production in Texas.

  2. about 1 month ago

    [BUSINESS] 2 sources
    TOYO expands US solar production with new Houston HJT plant as analysts upgrade stock

    TOYO is building a new HJT solar plant in Houston and reshaping its supply chain to meet U.S. rules, while posting strong Q1 earnings and receiving a Buy rating upgrade after a 60% share drop.

Sources

reinsurancene.ws · rocketnews.com · taiyangnews.info