Toledo Solar and First Solar have announced a mutually agreeable settlement in the ongoing lawsuit filed by First Solar against Toledo Solar. The terms of the settlement have been kept confidential.
Sean Fontenot, Chairman of Toledo Solar, expressed appreciation for First Solar’s understanding and prompt resolution of the matter, which originated from actions taken by the company’s previous management team.
“We look forward to continuing our collaboration with First Solar as the main manufacturers of the US-MAC and CTAC consortia, aiming to fortify U.S. leadership in the strategic domestic manufacturing of Cadmium Telluride-based solar panels,” Fontenot stated.
In addition to this settlement, Fontenot disclosed that Toledo Solar is shifting its strategic focus towards technology that enhances the durability of solar panels, specifically designed for regions facing extreme heat, humidity, and severe weather conditions such as hurricanes, tornadoes, and hail.
Furthermore, Toledo Solar is accelerating efforts to advance technology for creating high-powered semi-transparent solar panels. These panels are envisioned for use as windows in buildings, greenhouses, and semi-transparent canopies for agricultural fields. This strategic shift reflects Toledo Solar’s commitment to innovation and sustainability in the solar energy industry.