SINGAPORE, April 19,
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 REC Solar
Holdings AS, alleging its infringement of Maxeon patents relating
to TOPCon (Tunnel Oxide Passivated Contact) solar cell
technology.
Maxeon 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.
"Intellectual property infringement sits alongside injurious
dumping and subsidy-driven excess global production capacity as an
unfair trade practice that distorts markets and tilts what should
be a level playing field for global solar manufacturing," said
Marc Robinson, Maxeon's Associate
General Counsel. "Maxeon strongly supports fair competition and
will continue to vigorously enforce the Company's patent rights in
the United States 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.
©2024 Maxeon Solar Technologies, Ltd. All Rights Reserved.
MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd.
Visit https://corp.maxeon.com/trademarks for more
information.
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SOURCE Maxeon Solar Technologies, Ltd.