Toyo acquires VSUN brand

Toyo (TOYO) acquired the VSUN brand from its sister company, Vietnam Sunergy, a solar module provider. VSUN Co and Toyo share common control under majority shareholder Abalance. Since 2018, over 8 GW of VSUN-branded solar modules have been delivered to the U.S. market. The acquisition of VSUN brand did not involve any issuance of new equity by Toyo. Through the acquisition of the VSUN brand, TOYO gains immediate access to a well-established customer base, including top-tier solar developers, and is well-positioned to meet increasing demand for US solar panels. By acquiring the VSUN brand, TOYO expects to further enhance its revenue base and expand its market presence.