• The report published on Wednesday provides documentary evidence that the Texas-based solar module manufacturer bought $65 million worth of cells from China’s Trina Solar in the first quarter of 2026.

• The new Fuzzy Panda series builds on the firm’s May 19 report, which claimed T1’s Singapore entity Evervolt was a Trina-controlled front that would disqualify the company from tax credits and trigger accounting restatements.

• T1 Energy executives have often denied working with Trina.

Shares of T1 Energy Inc. (TE) fell 9% on Wednesday as short-selling firm Fuzzy Panda Research published the first installment of a whistleblower-backed series alleging material misstatements by T1 management about its solar-cell supply chain and continued reliance on banned Chinese supplier Trina Solar.

The report published on Wednesday provides documentary evidence that the Texas-based solar module manufacturer bought $65 million worth of cells from China’s Trina Solar in the first quarter of 2026 — directly contradicting public assurances from executives that the company had severed ties with the Chinese supplier to comply with U.S. Foreign Entity of Concern (FEOC) rules.

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Fuzzy Panda’s New Findings

Fuzzy Panda said that a former insider contacted it the day after its May 19 report and supplied over 150 files, including 26 detailed bilingual invoices and...

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