Talon PV Announces Sale of Minority Stake to T1 Energy

HOUSTON, Oct. 15, 2025 /PRNewswire/ -- Talon PV LLC, ("Talon") an advanced manufacturing company specializing in high-efficiency solar cells, has announced the sale of a minority stake in the company to T1 Energy Inc. (T1).

Under the agreement, T1 has executed a Simple Agreement for Future Equity (SAFE) to secure a minority ownership interest in Talon PV. Eagle Group, a Venture Capital company based in Houston, Texas, provided 100% of the funding to Talon PV prior to the T1 equity partnership. Talon has strong momentum and is actively working to finalize its capital stack with various partners. Talon and T1 are also actively exploring opportunities to strengthen their strategic collaboration moving forward.

The project, located in Baytown, Texas, will establish a 4.8 GW high-efficiency TOPCon solar cell manufacturing facility, significantly expanding U.S. domestic production capacity. The facility is designed to produce n-type TOPCon cells—one of the most advanced and commercially proven photovoltaic technologies available in the United States—supporting national objectives for domestic content, energy security, and non-FEOC compliance. The project has additionally secured $97.1 million in tax incentives from state and local governments. The TALON PV Baytown Project is expected to achieve commercial availability in Q1 2027.

In addition to the strategic investment from T1 Energy, Talon PV has formed partnerships with industry-leading firms to drive R&D and facility buildout. The Company is partnered with Fraunhofer ISE, a leading solar energy research institute, for technological development and R&D. Buildout of the 4.8 GW PV cell manufacturing facility will be led by ARCO Murray, a top-ranked design-build contractor with extensive experience in the PV cell manufacturing space.

Marathon Capital acted as exclusive financial advisor to Talon on the transaction.

"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. "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 4.8 GW of high-efficiency U.S.-made solar cells to the market by early 2027."

"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 U.S. energy security and create high-value manufacturing jobs in Texas." – Gerry Willinger, Managing Director, Marathon Capital

"This transaction reflects the rapid growth of U.S. solar manufacturing post-Big Beautiful Bill and emphasizes the importance of strategic partnerships with key supply chain players like T1 in scaling gigawatt-level capacity. Marathon Capital is proud to have supported Talon in establishing this partnership with T1, marking meaningful progress in the ongoing expansion of America's solar supply chain." - Patrick Brandt, Vice President, Marathon Capital

SOURCE Talon PV