TOYO Co., Ltd. Secures Two Major Supply Agreements Totaling $185.6 Million in Cumulative Purchase Orders for the U.S. Market

TOYO Co., Ltd. (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, announced that it has officially executed two master supply agreements with two major U.S. solar energy developers, for cumulative purchase orders of approximately $185.6 million.

Under the terms of the separate agreements, TOYO will supply its high-efficiency solar modules to back a portfolio of commercial and utility-scale projects across the United States.

The multi-million-dollar commitments highlight growing commercial demand for TOYO's solar modules, which are engineered to offer superior power output, low degradation rates, and optimized levelized cost of energy for large-scale assets.

"Securing $185.6 million in cumulative new orders from two major U.S. renewable energy players is a validation of our operational credibility and commercial strategy," said Takahiko Onozuka, Chairman and Chief Executive Officer of TOYO. "Utility-scale buyers are increasingly prioritizing transparency, execution track record, and strict regulatory compliance. As a manufacturer structured from inception to meet rigorous U.S. standards, TOYO is well-positioned to serve as a long-term, assured partner to the domestic solar sector."

Delivery and Compliance Overview

• Project Deployment: The solar modules supplied under the two agreements will be deployed across multiple project sites located in Texas, New York and Maine, supporting the expansion and regional diversification of utility-scale clean solar energy generation.
• Assured Supply Chain Integrity: All modules delivered under these contracts will utilize TOYO's established non-Chinese wafer sourcing channels. This strategy significantly mitigates supply chain risk by reducing exposure to geopolitical volatility and evolving tariff frameworks.
• FEOC-Compliant Manufacturing: Production will be executed across TOYO's designated manufacturing footprint, supporting customer compliance requirements and positioning the final products to align with evolving domestic content and FEOC (Foreign Entity of Concern)-compliance guidelines favored by U.S. project financing sources.

Regarding financial impact, the Company notes that the revenue associated with the purchase orders will be recognized as physical product deliveries are completed, in accordance with GAAP revenue recognition standards.

TOYO | https://www.toyo-solar.com/