T1 Energy (TE) Gets 51% Boost from Meeting with VP

We recently published 10 Small Caps With Big Double-Digit Gains. T1 Energy Inc. (NYSE:TE) is one of the top performers of last week.

T1 Energy soared by 51.47 percent week-on-week as investors cheered its chief executive’s meeting with US Vice President JD Vance last week to discuss American energy and manufacturing.

In a statement during the week, T1 Energy Inc. (NYSE:TE) chairman and chief executive officer, Dan Barcelo, committed to supporting the development of energy in the US.

According to T1 Energy Inc. (NYSE:TE), it is accelerating the development of its 2.1 GW solar cell fabrication facility to support project completion by the end of the year.

T1 Energy (TE) Gets 51% Boost from Meeting with VP

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Upon completion, the first phase of the facility, called G2_Austin, is targeted to start producing solar cells in the fourth quarter of 2026 with an estimated investment of $400 million to $425 million, as well as generate some 1,700 new jobs.

Apart from G2_Austin, T1 Energy Inc. (NYSE:TE) also owns and operates the G1_Dallas solar module facility in Wilmer, Texas—one of the most advanced solar manufacturing plants globally, with a capacity to produce between 2.6 and 3 GW of solar modules in 2025.

In the third quarter of the year, the company widened its net loss attributable to shareholders by 412 percent to $140.8 million from $27.47 million in the same period last year. Net sales were at $90.38 million, versus none in the same comparable period.

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Disclosure: None. This article is originally published at Insider Monkey.