Canadian Solar Comments on Trina Solar Patent Infringement Complaint

Rhea-AI Summary

Canadian Solar Inc. (NASDAQ: CSIQ) has responded to a patent infringement complaint filed by Trina Solar Co., on October 8, 2024. The lawsuit, filed in the U.S. District Court for the District of Delaware, alleges that three of Canadian Solar's U.S. subsidiaries are infringing on two U.S. patents related to tunnel oxide passivated contact solar photovoltaic module technology (TOPCon).

Canadian Solar, a major global solar product manufacturer, produces various solar products including TOPCon modules. The company has thousands of its own patents and asserts that the lawsuit is frivolous. Adam Walters, General Counsel for Canadian Solar's Modules and Systems Solutions business, expects the court to find that their proprietary TOPCon technology does not infringe on Trina's claimed patents.

The company affirms its commitment to continuing to deliver high-quality solar products in the United States and globally, as it has done for over 20 years since its founding in Guelph, Canada.

Positive

• Canadian Solar has thousands of its own patents for solar cells and related technologies
• The company expects to prove non-infringement of Trina's patents in court

Negative

• Patent infringement lawsuit filed against Canadian Solar's U.S. subsidiaries by competitor Trina Solar
• Legal proceedings may potentially impact Canadian Solar's operations in the U.S. market

GUELPH, ON, Oct. 22, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), today issued the following comment:

On October 8, 2024, Trina Solar Co., Ltd., ("Trina"), a Chinese competitor of Canadian Solar, filed a complaint for patent infringement in the U.S. District Court for the District of Delaware lawsuit against three of the Company's U.S. subsidiaries. The suit alleges that the subsidiaries are directly or indirectly infringing on two U.S. patents held by Trina relating to tunnel oxide passivated contact solar photovoltaic module technology (commonly referred to in the solar industry as "TOPCon" technology).

As one of the largest solar product manufacturers in the world, Canadian Solar manufactures and sells many different types of solar products, including TOPCon solar modules, to customers both in the United States and elsewhere in the world. Canadian Solar has itself filed and received thousands of patents in various jurisdictions for solar cells and related technologies.

"Canadian Solar respects and takes very seriously its own intellectual property rights and those of third parties. In our view, this is a frivolous lawsuit, and we expect the court will find that our proprietary TOPCon technology does not infringe on the patents claimed by Trina," remarked Adam Walters, General Counsel, Americas for Canadian Solar's Modules and Systems Solutions business.

Canadian Solar will continue to deliver high quality solar products in the United States and globally, as it has for more than 20 years since its founding in Guelph, Canada.

About Canadian Solar Inc.

Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery energy storage solutions, and developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. Over the past 23 years, Canadian Solar has successfully delivered over 133 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects across the world. Currently, the Company has approximately 1.6 GWp of solar power projects in operation, 6.5 GWp of projects under construction or in backlog (late-stage), and an additional 20.9 GWp of projects in advanced and early-stage pipeline. In addition, the Company has 1 GWh of battery energy storage projects in operation and a total battery energy storage project development pipeline of around 63 GWh, including approximately 8.5 GWh under construction or in backlog, and an additional 54.3 GWh at advanced and early-stage development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar power and battery energy storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to global pandemics; supply chain disruptions; governmental support for the deployment of solar power and battery energy storage; future available supplies of silicon, solar wafers and lithium cells; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as China, the U.S., Europe, Brazil and Japan; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; the pipeline of projects and timelines related to them; the ability of the parties to optimize value of that pipeline; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 26, 2024. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

Canadian Solar Inc. Investor Relations Contact

Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com 

View original content:https://www.prnewswire.com/news-releases/canadian-solar-comments-on-trina-solar-patent-infringement-complaint-302280994.html

SOURCE Canadian Solar Inc.

FAQ

What is the patent infringement lawsuit against Canadian Solar (CSIQ) about?

The lawsuit, filed by Trina Solar on October 8, 2024, alleges that three of Canadian Solar's U.S. subsidiaries are infringing on two U.S. patents related to tunnel oxide passivated contact solar photovoltaic module technology (TOPCon).

How has Canadian Solar (CSIQ) responded to the patent infringement complaint?

Canadian Solar has called the lawsuit 'frivolous' and expects the court to find that their proprietary TOPCon technology does not infringe on the patents claimed by Trina Solar.

What type of solar technology is involved in the patent dispute for Canadian Solar (CSIQ)?

The patent dispute involves tunnel oxide passivated contact solar photovoltaic module technology, commonly referred to as TOPCon technology in the solar industry.

Will the patent lawsuit affect Canadian Solar's (CSIQ) operations in the United States?

Canadian Solar has stated that it will continue to deliver high-quality solar products in the United States and globally, as it has for more than 20 years since its founding.