TEMPE, Ariz., June 09, 2022 (GLOBE NEWSWIRE) —

First Solar, Inc.

(Nasdaq: FSLR) today announced that its 2.7 gigawatt (GW)

_DC

vertically integrated manufacturing complex in Ohio has achieved Platinum status in a Responsible Business Alliance (RBA)

Validated Assessment Program (VAP)

audit. Platinum is the highest possible rating awarded on completion of a full VAP audit, which is considered a leading standard for onsite compliance verification and effective, shareable social and environmental audits across industries.

The audit was conducted at First Solar’s manufacturing facilities in Perrysburg and Lake Township, Ohio, by independent third-party auditors specially trained in social and environmental auditing and the VAP audit protocol. It covered the full scope of the VAP, including fair labor practices and human rights, health and safety measures, environmental performance, business integrity, ethics, and supporting management systems. The rating is valid until May 5, 2024.

“We’re incredibly proud that our Ohio facilities set the benchmark for socially- and environmentally-responsible solar manufacturing, based on an independent, impartial standard used across manufacturing industries,” said Mark Widmar, chief executive officer, First Solar. “The fact that we achieved Platinum status on our first try is a tribute to the passion and purpose of our people who exemplify First Solar’s commitment to Responsible Solar. We have demonstrated that competitiveness and scale do not need to come at the cost of people or the environment, and that our country’s transition to a sustainable energy future can be powered by responsibly-produced solar technology.”

First Solar joined the RBA, the world’s largest industry coalition dedicated to supporting the rights and well-being of workers and communities in the global supply chain, in 2021. The audit of its Ohio facilities was the first in a series of VAP audits that are expected to also include its other manufacturing facilities in Malaysia and Vietnam.

“The successful completion of this audit demonstrates that Responsible Solar is central to the way we operate. It impacts everything we do, from how we treat our people to the care with which we manage our supply chains,” said Mike Koralewski, chief manufacturing operations officer, First Solar. “It also demonstrates to the solar industry that credible onsite social auditing and supply chain due diligence frameworks exist and that we do not need to invent tailor-made solutions.”

First Solar’s Northwest Ohio footprint is the Western Hemisphere’s largest solar manufacturing complex. The company is

investing $680 million

in building a third factory that will expand the complex by an annual capacity of 3.3 GW. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the company’s Ohio footprint to a total annual capacity of 6 GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China. First Solar has already invested over $2 billion in its US manufacturing footprint and, when its third factory is fully operational, will directly employ over 2,500 people in Ohio, while supporting an estimated 15,000 indirect jobs through its American supply chain.

In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and is building a new

3.3 GW factory in India

that is expected to be commissioned in the second half of 2023. With First Solar’s expansion in the United States and India and optimization of its existing fleet, the company anticipates that its nameplate manufacturing capacity will double to 16 GW in 2024. First Solar is the only US-headquartered company among the world’s

ten largest solar manufacturers

.

About First Solar, Inc.


First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.

For First Solar Investors


This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning (1) First Solar’s plans to establish new factories in the United States and India and the expected capacities of those factories; and (2) when those factories are expected to be commissioned and First Solar’s resulting Northwest Ohio and global manufacturing capacity. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/a21298a7-20cc-495e-b065-4451a9acf897