T1 Energy shareholders approve board slate and auditor at annual meeting

T1 Energy Inc. (NYSE:TE), a small-cap energy company with a market capitalization of $198 million, held its annual meeting of stockholders virtually on Wednesday. The company’s stock, currently trading at $1.27, has declined over 50% year-to-date. According to a statement based on a Securities and Exchange Commission filing, shareholders voted on three proposals. InvestingPro analysis indicates the stock is currently undervalued based on its proprietary Fair Value model.

First, the election of directors was approved. The following individuals were elected to serve as directors for a one-year term expiring at the 2026 annual meeting: Daniel Barcelo, W. Richard Anderson, Todd Jason Kantor, Mingxing Lin, David J. Manners, Peter Matrai, Tore Ivar Slettemoen, Daniel Artemus Steingart, and Jessica Wirth Strine. Vote totals for each nominee ranged from 69.6 million to 71.4 million shares in favor, with between 553,687 and 2,286,860 shares voted against, and abstentions ranging from 46,322 to 123,630. There were 23,417,153 broker non-votes for each candidate. For detailed analysis of the company’s governance and financial metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.

Second, shareholders ratified the appointment of PricewaterhouseCoopers AS as the company’s independent registered public accounting firm for the year ending December 31, 2025. The vote was 95,153,361 in favor, 100,054 against, and 195,184 abstentions.

Third, an advisory vote on the compensation of the company’s named executive officers was held. The proposal received 55,484,307 votes in favor, 9,217,949 against, and 7,329,190 abstentions, with 23,417,153 broker non-votes.

T1 Energy Inc., formerly known as FREYR Battery, Inc., is based in Austin, Texas, and is listed on the New York Stock Exchange under the symbol TE. The company’s warrants, each exercisable for one share of common stock at an exercise price of $11.50, trade under the symbol TE WS.

All information is based on a statement released in a Securities and Exchange Commission filing.

In other recent news, T1 Energy has made several significant announcements that are of interest to investors. The company reported a revenue of $64.4 million for the first quarter of 2025. However, T1 Energy revised its 2025 EBITDA guidance significantly downward to a range of $30-$50 million from the previous $75-$125 million, reflecting strategic shifts and operational challenges. The company is focusing on enhancing its U.S. production capabilities, including the development of a new solar cell facility, G2 Austin, in Texas, which is expected to begin production by the end of 2026.

Additionally, T1 Energy announced that Yates Construction has been selected as the contractor for the $850 million G2 Austin solar facility, which aims to produce 5 gigawatts of solar cells. This project is part of T1 Energy’s strategy to build a domestic solar supply chain. The company is also winding down its European operations to concentrate on the U.S. market, where it sees greater opportunities. Despite the challenges, T1 Energy aims to maintain over $100 million in liquidity by the end of the year.

Furthermore, T1 Energy has signed a new 253 MW sales agreement with a utility-scale developer, indicating potential market expansion. The company is also engaged in strategic partnerships, including a nonbinding agreement with a partner aligned with Saudi Arabia for potential investment in the G2 project. These recent developments highlight T1 Energy’s efforts to navigate a complex market environment and strengthen its position in the U.S. solar energy sector.

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