TOKYO, Oct. 10,
2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO)
("TOYO" or the "Company"), a solar solution company,
today announced Liang "Simon" Shi's appointment as the
President.
With a deep understanding of strategic investments in the
renewable energy sector, Liang "Simon" Shi is poised to steer TOYO
toward continued growth and industry leadership. He will divide his
time between the U.S., Vietnam,
and other regions where TOYO has operations and customers.
TOYO's Chairman and CEO, Junsei
Ryu, commented: "We have been immensely impressed by Simon's
energy and passion for TOYO's business during the process of going
public. He has made valuable contributions to shaping our corporate
strategy as we continue to position TOYO as a technology and
quality leader as we build out our manufacturing footprint in
the United States. Simon's
financial strategy and business development proficiency will be
invaluable in advancing the Company's mission and communicating
with our shareholders."
"I am thrilled to lead TOYO into its next development phase. I
have been involved with Vietnam Sunergy Cell Company Limited, a
Vietnamese company and wholly owned subsidiary of TOYO ("TOYO
Solar") since its inception and continue to be impressed with the
reputation it has developed for manufacturing excellence. TOYO
already has a world-class team that spans operations, technology,
and sales and is backed by a strong corporate parent," commented
Liang "Simon" Shi.
"I am excited to collaborate with the team to elevate our
investor communications, refine our business strategy, and
successfully implement our long-term objectives. Together, we aim
to position our company as a leader in the industry. With this
incredible team, we will impress the market with our technological
innovation and execution capabilities."
Before joining TOYO Solar, Liang "Simon" Shi served as
Chief Executive Officer and Chairman of Blue World Acquisition
Corporation, the special purpose acquisition company that merged
with TOYO Solar. Since January 2017, Mr. Shi has served
as a Partner at Ningbo Zenin Investments Management Partners LP, an
investment fund focusing on growth capital investments in emerging
sectors in Asia. From
March 2007 to December 2016, Mr. Shi served as the
regional President at Barron Partners Fund, where he managed the
fund's investment portfolio in Asia and completed over 50 investments for the
fund. From February 2006 to February 2007, Mr. Shi
was a senior consultant at IBM Global Services (formerly PWC
Consulting).
About TOYO Co., Ltd.
TOYO is a solar solutions company that is committed to becoming
a full-service solar solutions provider in the global market,
integrating the upstream production of wafers and silicon,
midstream production of solar cells, downstream production of
photovoltaic modules, and potentially other stages of the solar
power supply chain. TOYO is well-positioned to produce high-quality
solar cells at a competitive scale and cost.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include but are not limited to,
statements regarding the expected growth of TOYO, the expected
order delivery of TOYO, TOYO's construction plan of manufacturing
plants, and strategies for building up an integrated value chain in
the U.S. These statements are based on various assumptions, whether
or not identified in this press release, and on the current
expectations of TOYO's management and are not predictions of actual
performance.
These statements involve risks, uncertainties, and other factors
that may cause actual results, levels of activity, performance, or
achievements to be materially different from those expressed or
implied by these forward-looking statements. Although TOYO believes
that it has a reasonable basis for each forward-looking statement
contained in this press release, TOYO caution you that these
statements are based on a combination of facts and factors
currently known and projections of the future, which are inherently
uncertain. In addition, there are risks and uncertainties described
in the documents filed by TOYO from time to time with the SEC.
These filings may identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking
statements.
TOYO cannot assure you that the forward-looking statements in
this press release will prove to be accurate. These forward-looking
statements are subject to several risks and uncertainties,
including, among others, the outcome of any potential litigation,
government or regulatory proceedings, the sales performance of
TOYO, and other risks and uncertainties, including but not limited
to those included under the heading "Risk Factors" of the filings
of TOYO with the SEC. There may be additional risks that TOYO does
not presently know or that TOYO currently believes are immaterial
that could also cause actual results to differ from those contained
in the forward-looking statements. In light of the significant
uncertainties in these forward-looking statements, nothing in this
press release should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. The forward-looking
statements in this press release represent the views of TOYO as of
the date of this press release. Subsequent events and developments
may cause those views to change. However, while TOYO may update
these forward-looking statements in the future, there is no current
intention to do so except to the extent required by applicable law.
You should, therefore, not rely on these forward-looking statements
to represent the views of TOYO as of any date subsequent to the
date of this press release. Except as may be required by law, TOYO
does not undertake any duty to update these forward-looking
statements.
Contact Information:
For TOYO Co., Ltd.
IR@toyo-solar.com
Crocker Coulson
Email: crocker.coulson@aummedia.org
Tel: (646) 652-7185
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SOURCE TOYO Co., Ltd