T1 Energy Inc. has secured municipal approval to rezone a portion of its Giga Arctic facility in northern Norway for dat

T1 Energy Inc. announced that local officials in Mo i Rana, Norway, have approved the rezoning of 161,000 square feet within the company's Giga Arctic campus for either industrial or data center operations. This decision supports T1's value optimization initiative to monetize the brownfield site. The company expects a 50 MW data center to become operational in 2027, with a pathway to expansion. T1 currently holds a position in the grid capacity queue for a total of 396 MW and believes the existing 926,000-square-foot building can accommodate this scale. The remaining portions of the facility stay zoned for industrial use but could be reclassified by government vote in the future when additional grid capacity is allocated.

The project benefits from a 50-year lease with options for extension, strong local community backing, a skilled workforce, and access to some of Europe's lowest-cost electricity supplied primarily by the region's abundant hydropower resources. Dan Barcelo, T1 Energy's Chairman and CEO, stated, “The people of Mo i Rana, Norway, today took a step towards the future and showed leadership in a future of AI and technology abundance with the approval of a T1 Energy’s plan to convert Giga Arctic into a world-class data center. We are in active discussions with multiple counterparties to find a strategy to unlock shareholder value.” The company is currently engaging with several parties to explore potential transaction structures and partnership opportunities.

T1 Energy Inc., which trades on the NYSE under the ticker symbol TE, is an energy solutions provider focused on building an integrated U.S. solar supply chain following a transformative transaction completed in December 2024. While headquartered in the United States with domestic expansion plans, the company is actively evaluating value optimization opportunities across its European portfolio, including this Norwegian development. For further information, investors may visit www.T1energy.com or contact Jeffrey Spittel, EVP of Investor Relations and Corporate Development, or Russell Gold, EVP of Strategic Communications. The release includes standard forward-looking statement disclosures noting that actual results may differ due to regulatory, financial, operational, and market risks detailed in the company's SEC filings.