TOYO Solar Welcomes Section 232 Action for U.S. Manufacturing

TOKYO, August 7, 2026 - TOYO Co., Ltd. (Nasdaq: TOYO; OTC: TOYWF), a solar manufacturing company, today welcomed the proclamation issued by President Trump under Section 232 of the Trade Expansion Act of 1962 addressing imports of polysilicon and downstream solar products. The company reaffirmed its commitment to expanding solar manufacturing in the United States.

TOYO operates a 2GW module manufacturing facility in Houston and is investing $357 million in an advanced heterojunction (HJT) cell facility at its Texas solar manufacturing campus. Furthermore, the company is advancing plans for a phased buildout of a U.S. solar manufacturing supply chain connecting American polysilicon with domestic wafer, cell, and module production.

Key Highlights

• Welcomed President Trump's Section 232 proclamation supporting domestic solar manufacturing investment.
• Operating a 2GW module manufacturing facility in Houston, Texas.
• Investing $357 million in an advanced heterojunction cell facility in Texas.
• Planning an integrated U.S. supply chain connecting American polysilicon with domestic wafer, cell, and module manufacturing.