T1 Energy (NYSE:TE) reported second-quarter 2026 results on August 12 showing net sales of $250.1 million and module production at its G1 Dallas facility climbing to 935 megawatts, yet the company posted a net loss from continuing operations of $36.9 million.
Net loss attributable to common stockholders widened to $44.5 million from $32.8 million a year earlier, though a larger share count pushed per-share loss down to $0.16 from $0.21. Losses from discontinued operations grew to $6.6 million from $0.7 million.
T1 is pivoting heavily toward a domestic U.S. solar supply chain. In August, it signed a deal to supply Clearway Energy Group with 641 MW of modules built from domestic cells manufactured at its G2 Austin fabrication facility. Construction on G2 Austin's 2.1 GW Phase 1 has reached interior mechanical and electrical work, production line equipment is arriving at U.S. ports, and long-lead-time cleanroom equipment has been ordered for installation later in the third quarter, with first cells targeted for the first quarter of 2027.
In July, T1 paid $135 million to acquire TOPCon solar cell patents from Evervolt, technology the company called the most efficient commercially viable option available. Also in July, T1 closed its acquisition of KORE Power, creating a new T1 NRI brand targeting battery storage and AI data center markets.
The policy backdrop is shifting in T1's favor. An August 6 proclamation placed new tariffs on polysilicon imports starting December 4, and T1 plans to tap an onshoring incentive program through its commitments with Hemlock and Corning.
Full-year 2026 production guidance now points to the higher end of the prior 3.1 to 4.2 GW range.
But the path to profitability remains costly. The price tag on G2 Austin Phase 1 rose to $510 million after T1 added a 20% contingency to cover labor and materials cost pressures in the Texas construction market. As of June 30, T1 held $156.4 million in cash, cash equivalents, and restricted cash, with only $79.1 million unrestricted. In July, the company raised $120 million through convertible senior notes due 2031, explicitly framed as a bridge — meaning the comprehensive, debt-heavy financing package T1 says it still needs for G2 Austin has not yet materialized.
