Maxeon Solar Stock Price, News & Analysis

Solaris Renewables, a Massachusetts-based solar and storage provider, has become a Maxeon Preferred Partner, offering Maxeon IBC solar panels for residential and commercial installations. With over 12 years of experience, Solaris has built thousands of installations across New England, leveraging Maxeon's technology and customer-centric approach.

Brian Sadler, VP of Solaris Renewables, praised Maxeon's panels for their superior performance, reliability, and aesthetics. He noted that customers consistently report outperforming expected payback times and projected savings, leading to significant word-of-mouth referrals. Importantly, Solaris has never had to replace a Maxeon panel in the field.

Vikas Desai, CCO at Maxeon, emphasized their partner program's focus on creating a trusted network of installers committed to quality and integrity. Maxeon (NASDAQ: MAXN) continues to expand its ecosystem of dealers and installers who prioritize customer satisfaction and product excellence.

Maxeon Solar Technologies (NASDAQ: MAXN) has published its 2023 Sustainability Report and Modern Slavery Statement, showcasing milestones in sustainable business practices. Recognized globally with the APEX Award by the UN Global Compact Singapore and ranked in the Top 50 Most Sustainable Companies by Corporate Knights, Maxeon continues to lead in sustainability. Key achievements include a circular economy partnership with Nanyang Technological University, launching the Maxeon 7 solar panel with over 24% efficiency, and earning LEED Gold Certification for its Singapore headquarters. Additional highlights include a 25% improvement in customer NPS scores and new initiatives in gender equity, sustainability, and mental wellness. The reports adhere to GRI, SASB, UN Global Compact, and Singapore Exchange standards, providing transparency on human rights protections and supply chain traceability.

Maxeon Solar Technologies (NASDAQ:MAXN) announced the initiation of a patent infringement lawsuit in the Düsseldorf Local Division of the Unified Patent Court (UPC) against Aiko Energy Germany GmbH, Solarlab Aiko Europe GmbH, Aiko Energy Netherlands B.V., and their European partners. The lawsuit alleges infringement of Maxeon's solar cell technology patent. Additionally, Maxeon has filed an appeal regarding a May 16, 2024, preliminary decision in the Netherlands related to another patent dispute with Aiko. Maxeon aims to enforce its European patents and seek injunctions in key solar markets, including Belgium, France, Germany, Italy, and the Netherlands. The company remains committed to protecting its intellectual property rights.

Maxeon Solar Technologies (NASDAQ: MAXN) will exhibit its latest solar energy and panel technologies at Intersolar Europe 2024 from June 19-21. Visitors can explore Maxeon's new Maxeon 7 and Performance 7 solar panels, which offer enhanced efficiency, thermal performance, and warranties. The Maxeon 7 panels boast over 24% efficiency and a 40-year warranty, while the Performance 7 panels feature TOPCon cell technology with a 30-year warranty. Additionally, Maxeon will showcase the SunPower Reserve battery storage and SunPower Drive EV charger, integrated via the SunPower One app. The event will also highlight Maxeon Air flexible solar panels and the company's IBC Cell Lab. Maxeon will participate in the ESIA Forum to discuss sustainability and labor rights in the solar industry.

Maxeon Solar Technologies (NASDAQ: MAXN) announced that its new Maxeon 7 IBC panels exhibit superior resilience against damaging hotspots. Through comprehensive R&D testing, the Maxeon 7 panels showed a 70% lower average temperature rise in partial shading compared to other technologies. Hotspots, which can lead to severe panel damage, are effectively mitigated, reducing long-term degradation risks. The panels were tested under full-sun and partial shading conditions, demonstrating temperatures 67°C cooler than competitors. Moreover, Maxeon 7 panels maintained stability even under simulated bypass diode failures. Maxeon remains the only manufacturer offering a 40-year warranty on its panels. These advancements aim to enhance reliability and lower the levelized cost of energy (LCOE) for customers.

Oakridge Dairy, the largest dairy farm in the Northeast U.S., has implemented an advanced solar energy system from Maxeon Solar Technologies (NASDAQ: MAXN). Located in Connecticut and home to nearly 3,000 cows, Oakridge boasts an 8-acre barn fitted with 752 solar panels capable of generating up to 1,200 kilowatt hours of energy per day. The system, designed and installed by Earthlight Technologies, leverages Maxeon's high-efficiency panels. This move aligns with the U.S. dairy industry's efforts to reduce milk's carbon footprint by 63% in recent decades. Maxeon's panels come with a 40-year warranty, supporting long-term sustainability and clean energy production.

On May 31, 2024, Maxeon Solar Technologies (NASDAQ: MAXN) announced that it has regained compliance with Nasdaq Listing Rule 5250(c)(1). The company had received a standard notice of non-compliance on May 17, 2024, due to a delay in filing its 2023 Annual Report on Form 20-F. However, the timely submission of this report has brought the company back into compliance as confirmed by Nasdaq on May 30, 2024. Maxeon Solar Technologies is a global leader in solar innovation and channels.

Maxeon Solar Technologies (NASDAQ: MAXN) reported its Q1 2024 financial results, revealing a revenue of $187 million, a significant drop from previous quarters. The company is facing challenges due to difficult market conditions, high interest rates, and policy changes.

Key strategic moves include securing $197.5 million in financing from its largest shareholder, TZE, and restructuring its convertible notes, which will result in significant shareholder dilution. The company also sold its stake in the HSPV joint venture for $34 million and made IP-licensing agreements for shingling technology.

Despite these efforts, Maxeon anticipates continued difficulties, with expected Q2 revenue between $160-$200 million and a fiscal year revenue forecast of $640-$800 million. The company is focused on restructuring and returning to profitability.

Maxeon Solar Technologies (NASDAQ: MAXN) announced on May 21, 2024, that it received a notice of non-compliance from Nasdaq due to a delayed filing of its annual report for the fiscal year ended December 31, 2023. The company has until July 16, 2024, to submit a compliance plan. If accepted, Nasdaq may grant an extension until November 11, 2024. This delay has no immediate effect on Maxeon's Nasdaq listing. In addition, Maxeon postponed its Q4 2023 and Q1 2024 financial results release from May 23, 2024, to May 30, 2024, to finalize annual and quarterly reports. The company will hold a conference call on May 30 to discuss the results and provide a business update.