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 a public offering of up to $125 million in ordinary shares, with an option for underwriters to purchase an additional $18.75 million. Concurrently, Maxeon plans a private placement of up to 1.9 million shares with TZS, contingent on the public offering's completion. Proceeds will support operational expansion, including the Performance line and production increases for Maxeon 5 and 6, alongside R&D efforts for Maxeon 7. Morgan Stanley and BofA Securities are leading the offering.
Maxeon Solar Technologies (NASDAQ:MAXN) reported its Q4 and fiscal year 2020 results, showing sequential revenue growth of 12% and 35% in distributed generation and large-scale segments, respectively. Revenue reached $245.6 million, while gross profit was $7.3 million, surpassing expectations due to higher ASPs. CEO Jeff Waters highlighted advancements in Maxeon 7 technology and a strategic focus on the U.S. market. However, the company anticipates losses in Q1 2021, expecting revenue around $160 million and a gross profit loss between $5 million and $15 million due to supply chain challenges.
Maxeon Solar Technologies (NASDAQ:MAXN) is launching an initiative to enhance its position in the U.S. solar market by rolling out up to 3.6 GW of new shingled module assembly capacity. This expansion, set to begin in 2022, hinges on obtaining necessary financing. Maxeon aims to leverage existing supply chain assets, thereby bolstering its sales of Performance line solar panels. The first phase will rapidly deploy 1.8 GW using current facilities, while the second phase anticipates an additional 1.8 GW assembly site in the U.S. aimed at utility-scale and commercial applications.
Maxeon Solar Technologies (NASDAQ: MAXN) has appointed Ralf Elias as Executive Vice President and Global Head of Distributed Generation (DG) Products, effective July 1, 2021. Elias, with over 20 years of experience, will spearhead Maxeon's strategy to grow its DG business, focusing on comprehensive energy solutions that complement their solar panels. CEO Jeff Waters expressed confidence in Elias's ability to enhance their 'Beyond the Panel' strategy, aiming for significant future growth. Maxeon operates globally and emphasizes sustainable solar manufacturing.
Maxeon Solar Technologies (NASDAQ:MAXN) will release its fourth quarter and fiscal year 2020 financial results on April 6, 2021. A conference call is scheduled for the same day at 6:00 PM U.S. ET to discuss the outcomes and provide a business update. Interested parties can access the earnings release and supplemental information through the Investor Relations section of Maxeon's website. Maxeon, headquartered in Singapore, operates worldwide with a strong focus on solar innovation and sustainability.
Maxeon Solar Technologies (NASDAQ: MAXN) will participate in a fireside chat at the 33rd Annual Roth Conference on March 16, 2021, at 4:00 PM ET/1:00 PM PT. The presentation will be accessible via a webcast on Maxeon's investor relations page. In addition, the company will conduct one-on-one virtual meetings with institutional investors, available by invitation only through Roth Capital Partners. Maxeon, headquartered in Singapore, is known for its innovation in solar technology, holding over 900 patents and operating globally with a focus on sustainable solutions.
On March 15, 2021, Kai Strohbecke will join Maxeon Solar Technologies (NASDAQ:MAXN) as the Chief Financial Officer (CFO), succeeding Joanne Solomon. Strohbecke, with 26 years of experience in the semiconductor industry, previously served as VP Finance at Micron Technology and CFO at Inotera Memories. CEO Jeff Waters expressed confidence in Strohbecke's ability to lead the finance organization for continued growth. This appointment follows Maxeon's recent independence from SunPower and recent leadership changes aimed at enhancing the company's strategic growth plans.
Maxeon Solar Technologies (NASDAQ:MAXN) has achieved LEED BD+C Gold certification for its solar cell fabrication facility in Laguna, Philippines, denoting excellence in environmental performance.
This facility is the fifth Maxeon site to meet LEED standards, reflecting the company's commitment to sustainability and efficient resource use. Key features contributing to this certification include a 50.45% reduction in water usage, a 16.7% energy efficiency improvement, and 93% waste diversion during construction. CEO Jeff Waters emphasizes ongoing dedication to high environmental standards.
Maxeon Solar Technologies (NASDAQ:MAXN) received a favorable patent validity ruling in China, affirming the validity of its patent for shingled solar cell panel technology amidst a challenge by LONGi Green Energy. The ruling, decided by the China National Intellectual Property Administration, confirms Maxeon’s rights over its technology used in Performance panels. This decision enhances Maxeon’s position in the solar market, where it has deployed over 3 gigawatts of its technology in 60 countries. The company maintains an extensive international patent portfolio with over 150 patents related to solar technology.
Maxeon Solar Technologies (NASDAQ:MAXN) has appointed Mark Babcock as Chief Revenue Officer to enhance its revenue generation and global expansion. Babcock will report to CEO Jeff Waters and oversee market-facing functions, focusing on growth in over 100 countries. With over two decades of experience in the solar sector, Babcock aims to drive sustainable growth and explore new revenue opportunities. This strategic addition comes as Maxeon continues its growth trajectory after becoming an independent public entity in August 2020.
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