Shares of TOYO Co., Ltd (NASDAQ:TOYO) are on the rise Tuesday after the company announced a $150 million contract to supply solar cells to a solar module manufacturer. Here is what you need to know.
What To Know: The contract, valued at $150 million, will see TOYO supply solar cells to the manufacturer's production facilities in India and the United States. TOYO will use its manufacturing sites in Vietnam and Ethiopia to produce solar cells, to improve the efficiency and performance of solar modules.
Junsei Ryu, CEO and Chairman of TOYO said that the contract is critical to establish TOYO as a key supplier in the solar energy market. The company aims to support the solar module manufacturer in meeting sustainability targets by providing advanced solar cell technology.
The company expects the agreement to increase its production capacity and strengthen its position in the renewable energy sector. The company is focusing on becoming a full-service provider in the solar supply chain, covering the production of silicon wafers, solar cells and photovoltaic modules.
"We are excited to partner with a highly respected player in the solar industry," said Mr. Ryu. "This contract marks a major milestone for positioning TOYO as a key supplier in the solar energy market. Our advanced solar cells are designed to deliver superior efficiency and performance, helping our customer meet their sustainability goals and drive the adoption of solar energy worldwide."
TOYO Price Action: Toyo Co. shares were up 70.0% at $4.93 at the time of writing, according to Benzinga pro.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
The company expects the agreement to increase its production capacity and strengthen its position in the renewable energy sector. The company is focusing on becoming a full-service provider in the solar supply chain, covering the production of silicon wafers, solar cells and photovoltaic modules.
同社はこの合意により生産能力が増加し、再生可能エネルギーセクターにおける地位が強化されることを期待しています。同社は、シリコンウエハー、太陽電池、および太陽光発電モジュールの製造をカバーするフルサービスプロバイダーになることに注力しています。
