T1 Energy to buy KORE Power for $32 billion; shares fall

T1 Energy

03/06/2026 11:24

** Shares of U.S. solar company T1 Energy TE.N fall 7.4% to $11.15 premarket
** Company to acquire KORE Power for about $32 million in equity, cash and assumption of debt
** Deal expected to close in Q2
** T1 expects the transaction to generate positive core profit in 2026 and contribute about $15 million to $20 million in EBITDA in 2027
** Transaction also includes a total of $9.6 million in potential equity-based earn-out for fiscal years 2026 and 2027
** As of last close, shares up 80.2% YTD

 (Reporting by Katha Kalia in Bengaluru)
 ((katha.kalia@thomsonreuters.com))