TOYO signs one-year polysilicon supply deal with US manufacturer

TOYO Co., Ltd. (NASDAQ: TOYO) announced it has signed a one-year sales contract with a U.S. polysilicon manufacturer to secure domestically sourced raw materials for its solar manufacturing operations.

The agreement adds U.S.-sourced polysilicon to TOYO's existing non-Foreign Entity of Concern overseas supply. Under the contract, the supplier will provide polysilicon produced in the United States to support TOYO's cell manufacturing in Ethiopia and module production in the United States.

"Partnering with a leading polysilicon supplier in the U.S. gives TOYO a strategic advantage in building a robust and policy-aligned supply chain," said Junsei Ryu, CEO and Chairman of TOYO. "This agreement strengthens our U.S. expansion by increasing access to domestic materials, positioning TOYO to deliver cost-effective and sustainable solar solutions to the American market."

The Tokyo-based solar solutions company did not disclose the identity of the U.S. supplier or financial terms of the agreement. TOYO also trades on over-the-counter markets under the ticker TOYWF.

TOYO operates across multiple stages of the solar power supply chain, including upstream wafer and silicon production, midstream solar cell production, and downstream photovoltaic module manufacturing. The company has manufacturing operations in Ethiopia and the United States.

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