SAN JOSE, Calif. and
FREMONT, Calif., July 15, 2020 /PRNewswire/ -- SunPower
Corporation (NASDAQ:SPWR), a leading global solar technology and
energy services provider, and Enphase Energy, Inc. (NASDAQ:ENPH), a
global energy technology company and the world's leading supplier
of solar microinverters, today announced a strategic partnership to
produce the new Enphase Energized™ Maxeon AC Module, featuring a
factory-integrated seventh-generation Enphase IQ™ microinverter.
The AC Module will be commercialized by Maxeon Solar Technologies,
the planned spin-off from SunPower, to residential customers in key
international markets through authorized installer networks and
distributors starting in the fourth quarter of 2020.
SunPower's Maxeon products are the most efficient, powerful and
reliable solar panels on the market today, thanks to a unique
design honed across five generations and more than 31 million
panels shipped.
Enphase IQ 7™ series microinverters leverage Enphase's unique
software-defined architecture and semiconductor integration,
dramatically simplify solar installations and provide a complete AC
solution that produces no high-voltage DC, delivering a safe solar
solution for homeowners. In addition, the AC Module will work
seamlessly with the full suite of Enphase IQ products: the lighter
two-wire Enphase Q Cable™, the Enphase IQ Envoy™ and the Enphase
Enlighten™ monitoring and analysis software.
"Consumers are becoming more sophisticated and recognize the
importance of investing in high quality solar systems," said
Jeff Waters, CEO of Maxeon. "We
believe that the winning combination of the Enphase
microinverter-based energy management system with our superior
solar technology and leading downstream sales network is an
unparalleled way to address customer needs and new demand dynamics
in markets like Europe and
Australia. The AC Module is just a
first step which paves the way for a more dynamic business model
beyond the roof, offering smart energy solutions to global
distributed generation markets."
Enphase Energized Maxeon AC Modules will provide SunPower global
installers with the advantages of improved capital management,
simplified logistics and operations, accelerated design and faster,
simpler, safer and more cost-effective installation.
"Combining the technology and intelligence of the Maxeon panels
and the Enphase microinverters will deliver superior performance,
reliability, and safety to the Australian solar market. This
pairing maximises power output, savings and customers' peace of
mind over the life of their system," said Glen Ashton, managing director at SAE Group,
Australia. "As a solar solutions
provider, we aim to exceed customer expectations by providing high
quality solar systems designed specifically to their needs. The
Maxeon and Enphase pairing allows us to offer a ready-made solution
to meet these goals."
"We are excited about the partnership between the two
world-class solar companies," said Jason
Savidge, co-owner and director at Stratford Energy
Solutions, United Kingdom. "The
new Maxeon Enphase Energized AC Module will be valuable for the
high-volume residential market, combining the highest efficiency
SunPower solar technology with factory-assembled high-quality
microinverters from Enphase. We are confident that this new
product will bring great benefits to both installers and
homeowners."
"SunPower has been a valuable partner of Enphase since
June 2018, and our continued AC
module partnership is validation of the effectiveness of both the
AC module concept and Enphase microinverter technology," said
Badri Kothandaraman, president and
CEO at Enphase Energy. "Our partnership harnesses the strengths of
both companies to offer a high quality, easy-to-use and high-volume
mainstream AC module solution. Together with Maxeon Solar
Technologies, we are proud to be able to deliver smart home energy
solutions and an outstanding customer experience to homeowners in
key international markets."
About SunPower
As one of the world's most innovative
and sustainable energy companies, SunPower Corporation (NASDAQ:
SPWR) provides a diverse group of customers with complete solar
solutions and services. Residential customers, businesses,
governments, schools and utilities around the globe rely on
SunPower's more than 30 years of proven experience. From the first
flip of the switch, SunPower delivers maximum value and superb
performance throughout the long life of every solar system.
Headquartered in Silicon Valley, SunPower has dedicated,
customer-focused employees
in Africa, Asia, Australia, Europe, North
and South America. For more information about how SunPower is
changing the way our world is powered, visit www.sunpower.com.
About Maxeon Solar Technologies
Maxeon Solar
Technologies is Powering Positive Change™. Headquartered in
Singapore, Maxeon designs,
manufactures and sells SunPower brand solar panels across more than
100 countries. Maxeon is the leader in solar innovation with access
to over 900 patents and two best-in-class solar panel product
lines. With operations in Africa,
Asia, Oceania, Europe and the Americas, Maxeon Solar
Technologies products span the global rooftop and solar power plant
markets through a network of more than 1,100 trusted partners and
distributors. Maxeon is the exclusive supplier of solar panels to
California-based SunPower
Corporation, from which it will be spun off in 2020. A pioneer in
sustainable solar manufacturing, Maxeon leverages a 35-year history
in the solar industry and numerous awards for its technology. For
more information about how Maxeon Solar Technologies is Powering
Positive Change™ visit maxeon.com
About Enphase Energy, Inc.
Enphase Energy, a global
energy technology company, delivers smart, easy-to-use solutions
that manage solar generation, storage and communication on one
intelligent platform. The Company revolutionized the solar industry
with its microinverter technology and produces a fully integrated
solar-plus-storage solution. Enphase has shipped more than 27
million microinverters, and over 1.1 million Enphase systems have
been deployed in more than 130 countries. For more information,
visit www.enphase.com and follow the company on Facebook,
LinkedIn and Twitter.
Enphase Energy®, the Enphase logo, IQ, Enphase Energized, IQ 7,
Q Cable, Envoy, Enlighten, and other trademarks or service names
are the trademarks of Enphase Energy, Inc. Other names are for
informational purposes and may be trademarks of their respective
owners.
Forward Looking Statements
For SunPower
investors:
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements
regarding product commercialization plans, integration with other
products, our business plans and strategies, anticipated advantages
for global installers, expected cost savings, and anticipated
product performance. These forward-looking statements are based on
our current assumptions, expectations and beliefs, and involve
substantial risks and uncertainties that may cause results to
materially differ from those expressed or implied by these
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, regulatory
changes and the availability of economic incentives promoting use
of solar energy, our ability to manage our joint venture and other
strategic relationships, and fluctuations or declines in the
performance of our solar panels and other products and solutions. 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 reports on Form 10-K and Form 10-Q, particularly under the
heading "Risk Factors." Copies of these filings are available
online from the SEC or on the SEC Filings section of our Investor
Relations website at investors.sunpowercorp.com. 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.
For Enphase investors:
This press release may contain
forward-looking statements, including statements related to the
expected capabilities and performance of Enphase Energy's
technology and products such as efficiency, reliability, energy
production, power output, cost savings and ease of use, and the
quality of products and services provided by our partners. These
forward-looking statements are based on Enphase's current
expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of certain risks and uncertainties including
those risks described in more detail in Enphase's most recent
Annual Report on Form 10-K and other documents on file with the SEC
and available on the SEC's website at www.sec.gov. Enphase Energy
undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or changes in its expectations, except
as required by law.
© 2020 SunPower Corporation. All Rights Reserved. SUNPOWER,
MAXEON and the SUNPOWER logo are registered trademarks of SunPower
Corporation in the U.S. and other countries as well.
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SOURCE SunPower Corp.