GUELPH, ON, Sept. 25, 2020 /PRNewswire/ -- Canadian Solar
Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ),
today issued the following comment:
Over the past five months, Canadian Solar has been vigorously
litigating a patent lawsuit filed by Solaria in April 2020 in the U.S. District Court in
Oakland, California, entitled
The Solaria Corporation v. Canadian Solar Inc., Case No.
4:20-cv-02169-JST (N.D. Cal.). Canadian Solar countersued with
claims requesting that the Court declare, as Canadian Solar
believes, that:
(1) none of the products at issue in the case infringe the
Solaria patents;
(2) Solaria withheld key evidence from the U.S. Patent Office
when seeking its patents; and
(3) this, among other reasons, renders the asserted claims both
invalid and unenforceable.
In the face of Canadian Solar's countersuit, Solaria opted to
file a new lawsuit with the U.S. International Trade
Commission (ITC), entitled Certain Shingled Solar Modules,
Components Thereof, and Methods for Manufacturing the Same, Section 337 Investigation
Docket No. 3491. The ITC investigation is expected to be instituted
next month.
Asserting the same family of patents against the same limited
number of products (HiDM and HiDM5) in a different forum does not
make Solaria's claims any less flawed. Canadian Solar will
continue to vigorously defend these lawsuits, while the Company
continues to focus its energy on developing superior product and
bringing innovation to the market.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar
power companies. It is a leading manufacturer of solar photovoltaic
modules and provider of solar energy solutions and has a
geographically diversified pipeline of utility-scale solar power
projects in various stages of development. Over the past 19 years,
Canadian Solar has successfully delivered over 46 GW of
premium-quality, solar photovoltaic modules to customers in over
150 countries. Canadian Solar is one of the most bankable companies
in the solar industry, having been publicly listed on 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 and
economic conditions and the state of the solar industry;
governmental support for the deployment of solar power; future
available supplies of high-purity silicon; 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 Japan, the U.S., India and China; changes in customer order patterns;
changes in product mix; capacity utilization; level of competition;
pricing pressure and declines in 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; delays in the process of
qualifying to list the MSS subsidiary in the PRC; continued success
in technological innovations and delivery of products with the
features customers demand; shortage in supply of materials or
capacity requirements; availability of financing; exchange rate
fluctuations; litigation and other risks as described in the
Company's SEC filings, including its annual report on Form 20-F
filed on April 28, 2020. 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.
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SOURCE Canadian Solar Inc.