NEW YORK, June 4, 2026, 17:05 (EDT)
- T1 Energy (T1) finished the day 1.4% higher at $11.66. Shares hit a 52-week high of $12.49 before settling back.
- T1 agreed to buy KORE Power, sending the solar maker further into battery storage and data center power infrastructure.
- First Solar, Enphase, and SolarEdge shares declined, but the Invesco Solar ETF finished a bit up.
T1 Energy Inc. stock finished Thursday up 1.4% at $11.66, its highest close in a year. Shares moved between $10.90 and $12.49 and volume was around 41.7 million. The latest gains follow its agreement to buy battery storage firm KORE Power.
T1 is pushing to move past solar modules, chasing a bigger role in power systems used by AI-driven data centers, as demand for electricity and grid capacity tightens. So battery storage is getting more attention in these projects. Battery energy storage systems, or BESS, are big batteries that hold power and can send it back to the grid or a customer as needed.
T1 said Wednesday it’s buying KORE Power for about $32 million in enterprise value, including equity, cash and assumed debt. The deal is set to close in the second quarter. KORE’s NRI unit works on utility-scale storage systems. T1 plans to change the division’s name to T1 NRI when the deal is done.
The company said it expects the deal will lift EBITDA in 2026 and add $15 million to $20 million of EBITDA in 2027. EBITDA stands for earnings before interest, taxes, depreciation and amortization, removing financing, tax and some accounting costs.
Dan Barcelo, chairman and CEO of T1, said the KORE NRI team has “extraordinary capability, knowledge, and customer relationships” in storage and power infrastructure. Jay Bellows, president and CEO at KORE Power, said joining up should offer customers “a one-stop solution for generation, storage, system design, and ongoing operations.” T1 Energy Inc.
T1 moves deeper into a busy battery storage market with this deal. Reuters said last month battery storage firms are targeting AI data center demand, but are stuck with grid bottlenecks and supply chain issues. The same Reuters report noted U.S. electricity demand from data centers could jump by 2030.
T1’s first-quarter numbers landed before the KORE news. Net sales hit $177.6 million. The company showed $3.9 million net income from continuing operations. Loss to common stockholders was $21.4 million. Cash, cash equivalents and restricted cash ended March at $123.7 million.
The stock did better than other solar names Thursday. First Solar lost 1.0%, Enphase Energy declined 0.9% and SolarEdge slipped 1.2%. The Invesco Solar ETF, which tracks the sector, gained 0.3%.
Stocks were mixed. The S&P 500 rose 0.4% and the Dow finished at a fresh record. The Nasdaq edged down 0.1% as losses in chip stocks weighed on tech shares. Smaller stocks and names outside the megacap group saw more action for the day.
The run-up gives the stock little cushion. The KORE transaction still requires standard approvals, including a nod from KORE shareholders. T1 calls out risks around possible hang-ups in factory construction, supplier reliance, questions about tariffs and tax credits, plus whether it can raise money or handle its debts as needed. If the deal gets pushed back, storage margins slip, or clean-energy incentives get squeezed, the stock could lose ground just as fast.
