Maxeon Solar Stock Price, News & Analysis

Maxeon Solar Technologies (NASDAQ:MAXN) launched the SunPower One integrated home energy solution, combining solar panels, battery storage, and actionable energy insights. This innovative offering aims to help homeowners manage energy consumption efficiently, leveraging Maxeon's 35+ years of industry experience. The solution identifies energy-saving opportunities and will soon include new products like electric vehicle chargers. Available initially in Australia by Q3 2022, it will expand globally, excluding the US and Canada. The rollout will be featured at Intersolar Europe on May 11-13, 2022.

Maxeon Solar Technologies (NASDAQ: MAXN) announced a partnership with OpenSolar to enhance its installer network through the SunPower Design software. This tool enables installers to create accurate proposals quickly, improving customer service and operational efficiency. The initiative is part of Maxeon's digital transformation strategy, aiming to address the needs of its channel partners. The software will initially be available to SunPower-branded partners in Europe, Australia, and Mexico, further solidifying Maxeon's position in the solar industry during the energy transition.

Maxeon Solar Technologies (NASDAQ: MAXN) and Canadian Solar (NASDAQ: CSIQ) have resolved a patent infringement lawsuit in Tokyo District Court regarding Maxeon's Japan Patent No. JP6642841B2 related to shingled solar cell modules. As part of the settlement, Canadian Solar will withdraw its challenges to the patent and will cease selling shingled solar modules in Japan until Q2 2025, after fulfilling certain 2022 orders. The terms of the settlement remain confidential, emphasizing both companies' dedication to intellectual property rights.

Maxeon Solar Technologies (NASDAQ: MAXN) announced the appointment of Donald Colvin as the new chairman of the board, succeeding Kevin Kennedy, effective immediately. Colvin, who previously served as CFO for notable multinational companies, is an independent director and has been on Maxeon's board since its public listing. CEO Jeff Waters praised Colvin's extensive experience in global technology. Kennedy will continue as chairman of the Compensation Committee and is in the process of transitioning as an independent director. A search for a successor is underway.

Maxeon Solar Technologies (MAXN) reported its Q4 and full-year financial results for 2021, with shipments totaling 577 MW and revenue of $221.5 million. Despite facing supply chain challenges, the company achieved over 700 MW in new bookings and a backlog exceeding 2 GW. However, it recorded a net loss of $73.3 million for Q4 and a gross loss of $10.5 million. For Q1 2022, Maxeon anticipates revenue between $210-$220 million and shipments of 475-495 MW while managing high polysilicon costs that impact profitability.

On March 24, 2022, Maxeon Solar Technologies (NASDAQ:MAXN) will release its fourth quarter and fiscal year 2021 financial results. A conference call is scheduled for 5:30 PM U.S. ET on the same day. The earnings release, along with supplemental financial data, will be accessible on Maxeon's Investor Relations page. Maxeon is recognized for innovation in solar technology, holding over 1,000 patents and offering renowned solar panels under the Maxeon® and SunPower® brands worldwide.

Maxeon Solar Technologies (NASDAQ: MAXN) will supply 400 MW of its bifacial Performance line solar modules to Origis Energy for U.S. utility-scale projects. Deliveries are set to start in June 2023 and conclude by the end of the year. This partnership emphasizes Maxeon's innovative solar technology and sustainability efforts. Origis Energy's CEO highlighted the significance of this agreement in meeting performance goals and fulfilling a robust solar portfolio. Maxeon boasts industry-leading efficiency and is committed to environmentally sustainable practices.

Maxeon Solar Technologies (NASDAQ: MAXN) has secured a multi-year order from Cypress Creek Renewables (CCR) for approximately 315 megawatts (MW) of its high-efficiency shingled bifacial solar modules. This order is set to support multiple solar projects in Washington and Texas, following an earlier acquisition of 48MW of the same modules. The CEOs of both companies expressed optimism about their partnership and the growth of the U.S. solar market, highlighting Maxeon's role as a major module supplier.

Maxeon Solar Technologies (NASDAQ: MAXN) and Ayana Renewable Power have completed the 192-MW Bikaner 1 Solar Farm in Rajasthan, India. Commissioned in December 2021, it is the largest project using Maxeon's Performance 3 UPP panels, known for their efficiency and durability in extreme climates. This facility is expected to generate approximately 800,000 MWh annually, reducing carbon emissions by 650,000 MT. The project aligns with India's commitment to achieving 500GW of renewable energy by 2030, contributing to a significant transition to low-carbon power generation.