Toyo Co. Ltd., through its subsidiary TOYO Solar Texas LLC, has entered into a significant module supply and purchase agreement with New Leaf Energy Buyer, Inc. Under the terms of the agreement, TOYO Solar TX will manufacture and sell 380,380 units of photovoltaic modules and components to NLEB for approximately $60 million. The contract is set to expire on December 31, 2025, unless terminated earlier under specific conditions. Additionally, Toyo Co. Ltd. has provided a parent guaranty to NLEB, ensuring the obligations of TOYO Solar TX are met, with liability limited to the purchase order value plus any enforcement-related costs. This strategic agreement is expected to bolster Toyo's position in the renewable energy market.
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