SINGAPORE, April 22,
2024 /PRNewswire/ -- Maxeon Solar Technologies, Ltd.
(NASDAQ:MAXN), a global leader in solar innovation and channels,
today announced that it has initiated a patent infringement lawsuit
in the Eastern District of Texas against Hanwha Q CELLS,
alleging their infringement of Maxeon patents relating to TOPCon
(Tunnel Oxide Passivated Contact) solar cell technology.
Maxeon's leadership in solar technology is the result of nearly
40 years of research of development and over half a billion dollars
of investment since 2007, leading to major advances in solar cell
and panel efficiency, performance, and cost. The Company has a
global patent portfolio of over 1,650 granted patents and more than
330 pending patent applications protecting the innovations
underpinning its IBC (Interdigitated Back Contact), Shingled
Hypercell, and TOPCon technologies.
"In November 2023, Maxeon
initiated a TOPCon patent infringement investigation in
the United States, and this
lawsuit against Hanwha Q CELLS, along with recent similar actions
against Canadian Solar, Inc. and REC Solar Holdings AS, are results
of that investigation," said Marc
Robinson, Maxeon's Associate General Counsel. "Maxeon has
the responsibility to protect the leadership position it has earned
from its substantial R&D investments and will continue to
enforce its patent rights against those who are attempting to sell
infringing products in the U.S. and its other markets."
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ:MAXN) is Powering Positive
Change™. Headquartered in Singapore, Maxeon leverages over 35
years of solar energy leadership and over 1,650 patents to design
innovative and sustainably made solar panels and energy solutions
for residential, commercial, and power plant customers. Maxeon's
integrated home energy management is a flexible ecosystem of
products and services, built around the award-winning
Maxeon® and SunPower® branded solar
panels. With a network of more than 1,700 trusted partners and
distributors, and more than one million customers worldwide, the
Company is a global leader in solar.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934,
including, but not limited to, statements regarding our future
plans and areas of focus, our positioning and business plans for
future success, and our positioning to enforce patent rights. These
forward-looking statements are based on our current assumptions,
expectations and beliefs and involve substantial risks and
uncertainties that may cause results, performance, or achievement
to materially differ from those expressed or implied by these
forward-looking statements. A detailed discussion of these factors
and other risks that affect our business is included in filings we
make with the Securities and Exchange Commission ("SEC") from time
to time, including our most recent report on Form 20-F,
particularly under the heading "Item 3.D. Risk Factors." Copies of
these filings are available online from the SEC or on the
Financials & Filings section of our Investor Relations website
at https://corp.maxeon.com/financials-filings/sec-filings. All
forward-looking statements in this press release are based on
information currently available to us, and we assume no obligation
to update these forward-looking statements in light of new
information or future events.
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SOURCE Maxeon Solar Technologies, Ltd.