Welcome to our dedicated page for Maxeon Solar Technologies, Ltd. Ordinary Shares news (Ticker: MAXN), a resource for investors and traders seeking the latest updates and insights on Maxeon Solar Technologies, Ltd. Ordinary Shares stock.
Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) is a leading global innovator in the solar energy industry. Headquartered in Singapore, Maxeon designs, manufactures, and sells SunPower brand solar panels in over 100 countries, with operations spanning Africa, Asia, Oceania, Europe, and the Americas. The company is recognized for its pioneering solar technology, boasting access to over 1,000 patents.
Maxeon offers two primary product lines: the flagship SunPower Maxeon panels and the cost-effective SunPower Performance panels. Maxeon panels are renowned for their record-setting efficiency and unmatched reliability, often deployed in top-performing solar power plants and installed on residential and commercial rooftops by a global network of more than 1,100 partners and distributors. Meanwhile, the Performance line features shingled solar cells that provide superior reliability and output compared to conventional products.
Maxeon is also the exclusive supplier of solar panels to California-based SunPower Corporation, reinforcing its significant position in the industry. The company’s manufacturing operations are based in Malaysia, Mexico, and the Philippines, producing high-efficiency Interdigitated Back Contact (IBC) and Performance line panels that cater to a diverse range of customers, from residential to small-scale commercial sectors across the globe.
Financially, Maxeon derives revenue from various markets, including the United States, France, and Italy, showcasing a robust international presence. Recent developments include the launch of the SunPower Performance 7 panels, designed for distributed generation projects and equipped with the latest TOPCon cell technology to maximize energy production and reliability. These panels are Cradle to Cradle Certified™, highlighting their sustainability credentials.
Maxeon has also taken legal steps to protect its technological innovations, recently initiating patent infringement lawsuits against REC Solar Holdings AS and Hanwha Q CELLS for violating its TOPCon solar cell technology patents. The company continues to emphasize fair competition and the enforcement of its extensive patent portfolio.
Maxeon faces a challenging market environment, exacerbated by high interest rates and policy changes affecting demand in the U.S. and Europe. Despite these challenges, the company remains focused on strategic initiatives to drive growth and profitability, including a significant investment from TCL Zhonghuan Renewable Energy Technology Co. Ltd. (TZE), aimed at bolstering its financial position.
With a vast network of over 1,700 trusted partners and distributors, Maxeon is committed to Powering Positive Change™ through its innovative, sustainably made solar panels and energy solutions. For more information, visit www.maxeon.com.
Maxeon Solar Technologies (NASDAQ:MAXN) announced its participation in several virtual investor conferences. On June 8-9, management will engage in one-on-one meetings at the Cowen Sustainability & Energy Transition Summit, followed by a fireside chat on June 9 at 2:30 PM ET. On June 10 at 2:00 PM ET, they will present at the 6th Annual Morgan Stanley Sustainable Futures Conference. Additionally, from June 21-23, management will meet with investors at the 7th Annual Roth Virtual London Conference. Interested investors can access the webcast on Maxeon's investor relations website.
Maxeon Solar Technologies (NASDAQ:MAXN) announced its Q1 financial results for 2021, reporting a revenue decline to $165.4 million from $245.6 million in Q4 2020, and 379 MW in shipments. Gross profit dropped to $1.1 million, with a net loss of $38.8 million. Despite challenges, the CEO expressed optimism about long-term prospects, highlighting progress in strategic initiatives and upcoming technology advancements. Looking ahead, Q2 outlook predicts shipments between 415-475 MW and revenue of $165-$185 million, alongside expected operating expenses of around $38 million.
Maxeon Solar Technologies (NASDAQ: MAXN) has secured an agreement to supply approximately 1 gigawatt of its bifacial Performance 5 UPP solar panels for the Gemini solar plus storage project near Las Vegas, Nevada. This project, built by Primergy Solar, will utilize nearly 1.8 million solar modules over a four-quarter period starting Q2 2022, with completion expected by the end of 2023. The Performance 5 panels have a rated efficiency of up to 21.1% and are tailored for extreme environmental conditions. This partnership illustrates Maxeon’s strong position in meeting utility-scale solar demands.
Maxeon Solar Technologies (NASDAQ:MAXN) announced its participation in upcoming virtual investor conferences. On May 26, at 9:00 PM ET, management will present at the Nomura International Carbon-Neutrality Series 2021 Conference in Hong Kong. Additionally, from May 27 to 28, Maxeon will host one-on-one meetings at the Bank of America Clean Energy Conference, with a fireside chat scheduled for May 28 at 10:00 AM ET. Investors can access the webcast through the company's investor relations website.
Maxeon Solar Technologies (NASDAQ:MAXN) has unveiled its new Maxeon Air™ technology platform, enabling the production of frameless, thin, and lightweight solar panels. This innovative technology, developed over five years, boasts efficiency akin to conventional solar panels and aims to reduce installation costs and expand market opportunities, particularly for low-load commercial rooftops. The Maxeon Air panels will debut in selected European projects in late 2021, with general availability set for Q1 2022. The product features include a peel-and-stick design, lightweight construction, and enhanced energy yield.
Maxeon Solar Technologies (NASDAQ: MAXN) will announce its first quarter 2021 financial results on May 20, 2021. A conference call is scheduled for the same day at 6:00 PM U.S. ET to discuss the results and business updates. The earnings report and supplementary financial information will be accessible on Maxeon's Investor Relations webpage. Interested listeners can join the call via a toll-free number or a simultaneous webcast. Maxeon operates globally with a strong focus on solar innovation, holding over 1,000 patents and offering a diverse range of solar products.
Maxeon Solar Technologies (NASDAQ:MAXN) has partnered with Clean Capital Energy Group (CCE) to supply premium solar panel technology in Austria. This collaboration follows over two years of partnership, enhancing CCE's ability to serve residential and commercial solar customers. CCE has nearly a decade of solar installation experience and manages projects exceeding 2 gigawatts globally. Maxeon's SunPower panels are known for their efficiency and reliability, addressing common solar installation challenges. This partnership aims to capitalize on Austria's strong renewable policies and growth potential.
Maxeon Solar Technologies (NASDAQ: MAXN) announced the closing of its public offering of 6,944,445 ordinary shares, with underwriters exercising their option to purchase an additional 1,041,666 shares at $18.00 each. Proceeds from this offering will support general corporate purposes, including the expansion of its Performance line and ramping up production for next-generation Maxeon 7. The offering was managed by Morgan Stanley and BofA Securities, with all regulatory filings completed with the SEC.
Maxeon Solar Technologies (NASDAQ: MAXN) announced the successful closing of its public offering, raising $125.0 million by selling ordinary shares at $18.00 per share. Additionally, a private placement to Tianjin Zhonghuan Semiconductor raised approximately $150.8 million in total net proceeds. Funds will be used for general corporate purposes, including expanding the Performance line and ramping production for its next-generation Maxeon 7 series. This move reflects Maxeon’s commitment to enhancing its manufacturing capacity and R&D efforts.
Maxeon Solar Technologies (NASDAQ: MAXN) announced a public offering of $125 million of ordinary shares priced at $18.00 per share, with a 30-day option for underwriters to buy an additional $18.7 million. After expenses, Maxeon expects to net approximately $117.1 million, or $134.9 million if the option is exercised. Additionally, 1.87 million shares will be privately placed with Tianjin Zhonghuan Semiconductor at the public offering price. Proceeds will fund general corporate needs, including expansions and R&D. The offering is set to close by April 20, 2021.
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