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) has become a signatory of the United Nations Global Compact, a major corporate sustainability initiative. This commitment marks a significant step in their first quarter of operations since becoming independent in August 2020. Maxeon aims to align its Environmental, Social, and Governance (ESG) strategy with the UN's Sustainable Development Goals, addressing global sustainability challenges. The company has appointed Lindsey Wiedmann as Global ESG Executive Leader, enhancing its commitment to social responsibility and sustainable innovation.
Maxeon Solar Technologies (NASDAQ: MAXN) will present at the Bank of America 2020 Virtual Renewable Energy Symposium on December 3, 2020, at 1:00 PM ET. The management team will engage in virtual investor meetings throughout the day. Attendance is by invitation only for Bank of America's clients. Founded in Singapore, Maxeon is a global leader in solar innovation, offering SunPower® brand solar panels and holding over 900 patents. With operations across continents, the company aims to lead in sustainable solar manufacturing.
Maxeon Solar Technologies (NASDAQ:MAXN) revealed its Q3 2020 results, showing a net loss of $67.8 million compared to $46.6 million in Q2 2020. Revenues were reported at $206.6 million, a decrease from $309.6 million year-over-year. Module shipments reached 531 MW, up from 428 MW in Q2. For Q4 2020, Maxeon expects module shipments between 550 MW and 690 MW, with revenues projected between $210 million and $260 million. The company anticipates a gross profit of $1 million to $7 million but a wider adjusted EBITDA loss of $15 million to $20 million due to polysilicon costs.
Maxeon Solar Technologies (NASDAQ: MAXN) will announce its third quarter 2020 financial results on November 19, 2020. Investors can access the earnings press release and supplemental financial information on Maxeon's Investor Relations page. A conference call will be held on the same date at 6:00 PM ET to discuss the results and provide business updates. Dial-in details and a webcast will be available for interested parties. A replay of the conference call will be accessible by phone until November 26, 2020.
Maxeon Solar Technologies (NASDAQ: MAXN) announced the launch of the SunPower Advantage Installer Program, aimed at enhancing solar installation capabilities in Norway, Sweden, Denmark, Poland, Portugal, and Spain. This program offers specialized training, expert knowledge updates, a Labour Reimbursement Program, and a reward system for installers. Maxeon aims to strengthen its market presence and support installers in delivering high-quality solar solutions. The program is free of charge, reflecting Maxeon's commitment to innovation and customer satisfaction.
Maxeon Solar Technologies (NASDAQ: MAXN) will present at the UBS Global Energy Transition Call Series on October 9, 2020, at 11:00 AM ET. The management will focus on trends in the rooftop solar market outside the U.S. This event is part of a series featuring energy experts discussing innovative business models benefiting from the global energy transition. Interested participants can register for the session here.
Maxeon Solar Technologies (NASDAQ: MAXN) has completed its registered offering of ordinary shares, raising approximately $58.5 million from the sale of around 3.8 million shares. This offering was linked to a previous transaction involving $200 million in green convertible senior notes, with the initial conversion rate set at 54.9611 shares per $1,000 principal amount. The offering was executed through Merrill Lynch International as part of a physical delivery forward transaction and is aimed at bolstering Maxeon’s financial position.
Maxeon Solar Technologies (NASDAQ:MAXN) has initiated a patent infringement lawsuit against Canadian Solar Japan in the Tokyo District Court. The case concerns alleged infringement of Maxeon's Japan Patent No. JP6642841B2, which pertains to shingled solar cell panel technology. This technology enhances the efficiency and durability of solar panels under the SunPower Performance brand. With a patent portfolio of over 900, Maxeon emphasizes the importance of protecting its intellectual property as a key asset in fostering innovation within the solar industry.
Maxeon Solar Technologies (NASDAQ: MAXN) has appointed Tiffany See as Chief Human Resources Officer and Lindsey Wiedmann as Chief Legal Officer. See brings extensive HR experience from BHP and Dell Technologies, while Wiedmann has significant legal expertise from her previous role at SunPower Corporation. The company also announced its Board of Directors, featuring a mix of independent members and designees from Total S.E. and Tianjin Zhonghuan Semiconductor Co., Ltd. These new appointments aim to enhance Maxeon's operational capacity and strategic direction as it expands its global solar market presence.
Maxeon Solar Technologies (NASDAQ:MAXN) announced its participation in two upcoming virtual investor conferences. The first event is the Morgan Stanley China Solar Seminar on September 7, 2020, at 8:00 PM EDT, by invitation only. The second is the Barclays CEO-Energy Power Conference on September 10, 2020, where Maxeon will host meetings throughout the day. Headquartered in Singapore, Maxeon is renowned for its solar innovations and operates globally, supplying solar panels in over 100 countries.
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