Now TALON PV, a leading global manufacturer of high-efficiency photovoltaic solar cells, has taken a big step to help solidify its capital structure. The money comes from the company’s recently completed sale of a minority stake to T1 Energy. This strategic partnership will significantly enhance TALON PV’s manufacturing capabilities. It will additionally accelerate the realization of their new TOPCon solar cell project in Baytown, Texas.
The agreement comes at an important juncture for TALON PV. They are particularly excited to deepen their collaboration with T1 Energy, which will bring together additional resources and expertise to accelerate new solar technology. All of the sale proceeds will go directly to the Baytown project. This new Solar Manufacturing Accelerator project will create a new advanced manufacturing facility that can produce 4.8 gigawatts (GW) of solar cells.
TALON PV has recently received a major enhancement to its financial base. Combined with the promised investment from T1 Energy, the company has seen success winning $97.1 million in tax incentives from state and local governments. Previously, the firm was funded 100% by Eagle Group, a Houston-based venture capital group. Now, it is both developing new projects and actively seeking partnerships with other cities to expand its project financing opportunities.
Accelerating Solar Cell Production
The Baytown project is expected to make a pioneering contribution toward re-establishing, expanding and growing US solar cell manufacturing. TALON PV is leveraging the newest technology and innovations, including high efficiency tunnel oxide passivated contact (TOPCon) cells. Their ambition is to create the world’s most advanced solar cells to meet the growing global demand for clean energy. The facility is supposed to achieve commercial availability in Q1 2027.
Adam Tesanovich, co-founder and CEO of TALON PV, said he is looking forward to the strategic partnership with T1 Energy.
“This milestone with T1 Energy marks a pivotal step in TALON PV’s journey to scale US solar cell manufacturing. The investment validates our technology roadmap and strengthens our commercial foundation as we move into project financing. With Marathon Capital’s continued support, TALON PV is well-positioned to advance toward construction and deliver 4.8GW of high-efficiency US-made solar cells to the market by early 2027.” – Adam Tesanovich
Using TALON PV technology, T1 Energy and TALON PV are working to develop robust domestic production capabilities. This important energy partnership would greatly advance US energy security.
Support from Industry Leaders
Support from industry experts has been critical in this development. We believe this transaction is truly transformational for TALON PV. Gerry Willinger, managing director at Marathon Capital, highlighted the importance of it to the whole solar industry.
“We are proud to have supported TALON in this milestone transaction with T1 Energy. Both companies share a vision for scaling advanced solar cell production domestically, which will help strengthen US energy security and create high-value manufacturing jobs in Texas.” – Gerry Willinger
This partnership underlines the growing trend of collaboration within the renewable energy sector, as companies recognize the need for innovation and efficient production methods to meet future energy demands.
A Bright Future for Solar Energy
With the increasing focus on renewable energy solutions and sustainability, TALON PV’s initiatives represent a crucial step towards the United States’ position in solar manufacturing. Upon successful execution of the Baytown project, it will go on to meet all of our domestic energy needs. Most importantly, it will create 42,000 jobs and $3.5 billion in economic growth for central Indiana.