SunPower Closes Cobalt Power Systems Acquisition
Rhea-AI Summary
SunPower (Nasdaq: SPWR) closed an all-equity acquisition of Cobalt Power Systems for $12 million on Feb 3, 2026. Cobalt will operate as a standalone subsidiary focused on premium residential, new-home, multifamily, and commercial renewable projects.
The deal is expected to add $30 million in annual revenue and strengthen SunPower's capacity to serve key California markets with advanced solar solutions, including installs using the SunPower Monolith panel.
Positive
- Closed an all-equity acquisition for $12 million
- Acquisition is expected to add $30 million in annual revenue
- Cobalt to operate as a standalone subsidiary, preserving execution team and practices
- Strengthens SunPower's capacity in key California premium solar markets
Negative
- None.
News Market Reaction
On the day this news was published, SPWR declined 5.36%, reflecting a notable negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $10M from the company's valuation, bringing the market cap to $178M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
No peers were flagged in the momentum scanner and no same-day peer headlines were provided, suggesting the -7.44% move reflected stock-specific factors rather than a sector-wide rotation.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Sep 09 | SunPower asset funding | Positive | +4.1% | Financing secured for SunPower asset acquisition via convertible debenture and ELOC. |
| Aug 06 | SunPower bid update | Positive | +10.0% | Secured stalking horse position in SunPower bankruptcy acquisition process. |
| Jul 15 | Core Energy acquisition | Positive | -7.4% | Acquired Core Energy assets to expand installation capacity amid solar downturn. |
Acquisition-related headlines have generally produced positive moves, though one deal saw a sharp negative divergence.
Over the past months, the company has issued several acquisition-related announcements tied largely to SunPower assets and solar EPC capacity. A Jul 15 Core Energy asset acquisition coincided with a -7.43% move, while SunPower-related acquisition progress on Aug 06 and Sep 09 led to gains of 10% and 4.09%. Today’s acquisition news continues this consolidation theme but comes against a backdrop of recent price weakness and elevated volume.
Historical Comparison
In the past 6 months, CSLR logged 3 acquisition-tagged headlines with an average move of 7.17%. Today’s -7.44% reaction marks a sharp downside divergence from that pattern.
Acquisition news has evolved from buying Core Energy capacity to structuring and funding bids for SunPower assets, reflecting an ongoing consolidation and integration strategy.
Market Pulse Summary
The stock moved -5.4% in the session following this news. A negative reaction despite strategically framed acquisition news fits the pattern seen in the Core Energy deal, which coincided with a -7.43% move. While historical acquisition headlines averaged a 7.17% move, not all were positive, highlighting execution and integration concerns. With the stock still 46.44% below its 52-week high, further sentiment may hinge on whether the acquired revenue contribution and project pipeline materialize as described.
Key Terms
all-equity financial
subsidiary financial
AI-generated analysis. Not financial advice.
The Premium Silicon Valley Solar Installer
OREM, Utah, Feb. 03, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. (herein “SunPower,” the “Company,” or Nasdaq: “SPWR”) a solar technology, services, and installation company, today announced that it has closed its
Cobalt will continue to operate as a standalone subsidiary company with common financial, HR and administrative practices, focused on big premium renewable energy systems, across residential, new home, multifamily, and commercial projects, such as the recently announced installation by Cobalt using the new SunPower Monolith panel on the Fortinet building in Sunnyvale, California.
SunPower CEO T.J. Rodgers said, “The acquisition of Cobalt provides SunPower with an established execution team that was purpose-built for complex, high-value renewable energy projects. John Paul has been operating in Silicon Valley for almost a quarter century now, meeting the demands of technologically discerning customers who seek the most advanced solar systems available on the market today.”
John Paul Bergh, Cobalt’s Executive Vice President said, “My team and I are very excited to become part of SunPower’s national team whose breadth and scale, paired with Cobalt’s technology differentiation and customer focus, will create a highly differentiated solar company.”
Rodgers concluded, “The acquisition of Cobalt Power Systems is expected to add
About SunPower
SunPower Inc. (Nasdaq: SPWR) is a leading residential solar services provider in North America. The Company’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.sunpower.com.
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, as amended, about SunPower and its acquisition of Cobalt. In some cases, you can identify forward-looking statements because they contain words such as “will,” “goal,” “prioritize,” “plan,” “target,” “expect,” “expected to,” “focus,” “forecast,” “look forward,” “opportunity,” “believe,” “estimate,” “continue,” “anticipate,” “could,” “forecast,” and “pursue” or the negative of these terms or similar expressions. Forward-looking statements in this press release include, without limitation, statements relating to the acquisition of Cobalt, the expected business, financial and other benefits of the acquisition of Cobalt, that Cobalt provides SunPower with an established execution team purpose-built for complex, high-value renewable energy projects, that the acquisition will yield a highly differentiated operating model for SunPower and Cobalt, and SunPower’s and Cobalt’s industry that involve substantial risks and uncertainties.
Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, risks associated with unanticipated difficulties or expenditures relating to the proposed transaction, the response of business partners and competitors to the announcement of the Cobalt acquisition, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed transaction, SunPower’s ability to retain Cobalt’s key employees and service providers following the closing of the acquisition, risks associated with the integration of the Cobalt business with SunPower, and other risks and uncertainties applicable to SunPower’s business and the Cobalt acquisition. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results, impact the anticipated benefits of the Cobalt acquisition, or cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on April 30, 2025, our quarterly reports on Form 10-Q filed with the SEC, and other documents that we have filed with, or will file with, the SEC. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SunPower assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
| Company Contacts: | |
| Dan McCranie | Sioban Hickie |
| Board Member | VP Investor Relations |
| dan.mccranie@sunpower.com | IR@sunpower.com |
| (408) 930-2048 | (801) 515-8727 |
Source: SunPower Inc.
This press release was published by a CLEAR® Verified individual.
FAQ
What did SunPower (SPWR) acquire on February 3, 2026?
How much annual revenue will the Cobalt acquisition add to SunPower (SPWR)?
Will Cobalt Power Systems remain independent after the SunPower (SPWR) deal?
What markets and project types does SunPower (SPWR) expect to expand with the Cobalt deal?
How does the Cobalt acquisition relate to SunPower's product deployments like Monolith panels?
