T1 Energy takes minority stake in Talon PV to boost U.S.-based TOPCon cell production
Talon PV LLC — a solar cell manufacturer in development — has sold a minority stake to T1 Energy Inc., an emerging U.S.-based module maker now building out a multi-gigawatt production footprint. T1, which recently announced its 5 GW G1_Dallas manufacturing facility and has been signing supply-chain partnerships (including as Nextracker’s first steel frame integrator), is using the deal to deepen its position in the domestic cell-to-module stack.
Under the agreement, T1 executed a SAFE (Simple Agreement for Future Equity) to secure a minority ownership interest in Talon PV. Eagle Group, a Houston-based venture capital firm, had already provided 100% of Talon’s pre-equity funding. Talon says it is finalizing the remainder of its capital stack and is in discussions with additional partners.
4.8 GW of U.S. TOPCon cells by 2027
The Talon PV project will establish a 4.8 GW high-efficiency n-type TOPCon cell factory in Baytown, Texas — one of the largest announced TOPCon cell facilities in the United States. The project has secured $97.1 million in state and local incentives and is targeting commercial availability in Q1 2027.
Talon positions the plant as new domestic capacity designed to meet non-FEOC compliance, strengthen U.S. energy security, and supply downstream U.S. module manufacturers — including players like T1.
Build partners and R&D stack in place
Talon PV has lined up partners ahead of construction:
- Fraunhofer ISE — R&D and technology collaboration
- ARCO Murray — EPC/design-build of the facility
- Marathon Capital — exclusive financial advisor
“This milestone with T1 Energy marks a pivotal step in TALON PV’s journey to scale U.S. solar-cell manufacturing,” said Adam Tesanovich, co-founder and CEO of TALON PV.
Marathon Capital called the move another marker of rapid U.S. manufacturing expansion “post-Big Beautiful Bill,” citing the need for aligned equity partners to accelerate gigawatt-scale capacity.
