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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 announced the appointment of Matt Dawson as Chief Technology Officer, effective March 20, 2023. He will drive global R&D and establish a strategic technology roadmap to enhance Maxeon’s solar innovation. CEO Bill Mulligan emphasized Dawson's expertise in IBC technology as critical for the company’s leadership in the solar sector. Dawson brings over 15 years of solar industry experience, previously serving as VP of Technology at Sila Nanotechnologies and holding leadership roles at SunPower Corporation. He expressed excitement about advancing cost-effective solar technologies at Maxeon, which operates in over 100 countries.
Maxeon Solar Technologies (NASDAQ:MAXN) reported a record gross profit of $20 million in Q4 2022, driven by improved operational performance and supply chain management. The company anticipates achieving positive adjusted EBITDA for the first time in Q1 2023, with shipments projected between 730-770 MW and revenue between $305-345 million. Annual revenue guidance for 2023 is set between $1.35 billion and $1.55 billion. CEO Bill Mulligan highlighted strong performance in the US and European markets, backed by significant bookings in the utility-scale segment totaling 4.2 GW through 2025.
Maxeon Solar Technologies (NASDAQ: MAXN) announced the release date for its fourth quarter and fiscal year 2022 financial results, scheduled for March 7, 2023. The earnings press release will be accessible on their Investor Relations page. Following the release, a conference call will take place on the same day at 5:00 PM U.S. ET to discuss the results. Participants can register for the call through a provided link. Maxeon is recognized globally for its solar innovation, operating in over 100 countries with a robust portfolio of patents and product lines.
SunPower Corp. (NASDAQ:SPWR) reported record Q4 results with nearly 24,000 new customers and revenue of $497 million, reflecting a 43% YoY growth. The company achieved a GAAP net income of $8 million and adjusted EBITDA of $36 million. For the full year 2022, SunPower added 83,000 customers, generating $1.7 billion in revenue, a 53% increase YoY, and net income of $56 million. As of January 2023, SunPower boasts a strong financial position with $48 million in net recourse debt, and successfully repaid $425 million in convertible debt. The company continues to secure new supply agreements to meet rising demand.
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