TOYO Co., Ltd Announces Plans for a 2 GW Solar Cell Manufacturing Facility in Ethiopia
TOYO Co., Ltd - Ordinary Shares (TOYO)
Company Research
Source: PR Newswire
TOKYO, Oct. 14, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is excited to announce its plan to establish a state-of-the-art solar cell manufacturing facility with an expected annual capacity of 2 gigawatts (GW). The Company has signed a lease agreement for the new facility that is strategically located in Hawassa, Ethiopia, taking advantage of the country's favorable investment policies, tariff status, and ample hydropower supply.The project represents an estimated investment of $60 million and will be financed using internal resources and pre-payments.TOYO expects to begin fitting out the new plant in November 2024, with the new factory anticipated to start production at the end of the first quarter of 2025. TOYO has selected a 31,500 m2 facility in Hawassa that will be modified to meet the needs of a modern, automated cell production. Once complete, TOYO estimates the new facility will create up to 880 jobs, including manufa
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News
- TOYO Co., Ltd Receives TÜV SÜD and CSA Certifications [Yahoo! Finance]Yahoo! Finance
- TOYO Co., Ltd Receives TÜV SÜD and CSA CertificationsPR Newswire
- TOYO Co., Ltd Secures $150 million Contract to Supply Solar Cells to a Leading Solar Module Manufacturer [Yahoo! Finance]Yahoo! Finance
- TOYO Co., Ltd Secures $150 million Contract to Supply Solar Cells to a Leading Solar Module ManufacturerPR Newswire
- TOYO Co., Ltd to Participate in Clean Energy Conferences in NYC on December 4th and 5th [Yahoo! Finance]Yahoo! Finance
TOYO
Sec Filings
- 12/26/24 - Form 424B3
- 12/20/24 - Form 6-K
- 12/18/24 - Form EFFECT
- TOYO's page on the SEC website