TOYO secures $240M in U.S. solar module supply deals through 2027

TOYO Co., Ltd. (Nasdaq: TOYO) announced it has entered into multiple binding solar photovoltaic module supply agreements with a combined value of approximately $240 million since mid-June 2026, according to a press release from the Tokyo-based company.

The agreements cover customers across the United States in several end markets, including utility-scale power generation, commercial and industrial projects, community solar, and data-center applications. Deliveries have begun and are scheduled to continue through the first half of 2027.

The modules are to be manufactured at TOYO's Houston, Texas facility, which operates approximately 2 gigawatts of annual solar module manufacturing capacity and employs roughly 600 people.

"Binding supply agreements totaling approximately $240 million signed since mid-June provide tangible evidence of the demand we are seeing for TOYO's U.S.-manufactured solar products," said Takahiko Onozuka, Chairman and Chief Executive Officer of TOYO.

Chief Strategy Officer Rhone Resch said the agreements represent "an important transition for TOYO from building manufacturing capacity to converting that capacity into contracted business."

The company cited customer interest in domestically manufactured products and supply-chain security, including compliance with Foreign Entity of Concern requirements, as factors behind the agreements.

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