PR94389

SINGAPORE, Feb. 3, 2022 /PRNewswire=KYODO JBN/ --

The New 40 Year Warranty Supports Unmatched Long-Term Energy Production and

Enhances Product Value, Customer Peace of Mind and Industry-Leading

Sustainability

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar

innovation and channels, today announced the launch of the solar industry's

longest and most comprehensive combined warranty on its Maxeon Interdigitated

Back Contact (IBC) product line, which is sold in most countries outside the US

and Canada under the SunPower Maxeon brand. The new warranty covers product

quality, power performance, and services in select markets for 40 years.

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While most solar panel warranties provide 12 years of coverage on products

paired with a 25-year performance (power) warranty, the new 40/40 warranty from

Maxeon includes 40-year coverage for defects related to workmanship and

materials, power output protection, and the servicing needed to repair or

replace defective panels in select markets.

The new SunPower Maxeon 40 Year Warranty is based on external field studies

from more than 33 million IBC panels deployed worldwide, comprehensive

accelerated life testing by Maxeon and third parties, and a physics-based model

which Maxeon uses to determine the expected performance impact over time from

major degradation and failure modes. Collectively, these give Maxeon and our

customers confidence that the SunPower Maxeon module technology can support a

40-year warranted life, and that continued operation beyond this period is

certainly feasible.

"We are delighted to be able to offer our customers the longest and most

comprehensive warranty in the industry", said Jeff Waters, CEO of Maxeon Solar

Technologies. "We have spent more than 35 years refining the patented cell and

panel design of our IBC technology and that has provided the confidence that

our panels will last for more than 40 years in the field. This exciting step is

part of our promise to customers that our panel technology will be the best

value, longest lasting and most sustainable choice in the industry. This is

what we call Solar for Life."

To achieve this extraordinary lifespan, the core technology behind Maxeon's

patented IBC cell and panel designs include fundamental design differences

which eliminate typical solar module failure modes – such as hotspots and cell

interconnection failures – delivering robust protection against environmental

stresses and wide-ranging climates while maximizing reliability and energy

density. This makes the Maxeon IBC solar panels among the most secure long-term

energy investments for businesses and homeowners thanks to a minimum warranted

output of 98% during their first year of operation, followed by a maximum

annual degradation of 0.25% for the next 39 years. The result is an

unprecedented 88.3 percent warranted power level at the end of 40 years,

meaning Maxeon IBC panels deliver up to 9.5% more power after 40 years than

standard solar panels deliver after 25 years.

Additionally, longer operating life means that significantly more clean energy

is generated by each panel, greatly improving the environmental footprint of

the technology. Maxeon stands behind its products which enable customers to

meet their energy goals while prioritizing the health of the planet. SunPower

Maxeon panels are ROHS and REACH certified, do not use fluorinated back sheets,

are Declare (TM) compliant, and are Cradle to Cradle Certified (R) Bronze.

Maxeon has a zero-tolerance policy for violations of human and labour rights,

and manufactures its products as cleanly as the energy they produce. Maxeon

takes its commitment to Powering Positive Change (TM) even further with this

extended warranty period, providing its customers with the comfort that they

are boosting their energy payback and deferring the recycling of every panel by

choosing Maxeon.

Simon Dudson, CEO of The Little Green Energy Company, SunPower Premiere

Partner, identifies the benefits of the new warranty for their customers,

"Considering solar is a long-term asset, customers want certainty in their

solar purchase. The SunPower Maxeon 40-year warranty provides that certainty.

Maxeon's warranty, the longest in the industry, assures our customers more

years of clean energy production and reduced environmental impact, giving them

the utmost confidence that they're building a better tomorrow."

The new SunPower Maxeon 40 Year Warranty is effective for systems installed on

or after January 1, 2022 and is available to all residential and commercial

customers in select markets in EMEA as well as Australia, Japan, and Mexico.

Eligibility and terms for the new warranty vary by market and are subject to

registration on Maxeon's website. The new warranty applies to current and

future Maxeon IBC solar products, including the new Maxeon 6 solar panel which

is scheduled to launch globally in mid Q2 2022.

For more on why quality solar products and warranties matter, visit the Company

Website here (https://c212.net/c/link/?t=0&l=en&o=3433169-1&h=3149990991&u=https%3A%2F%2Fsunpower.maxeon.com%2Fuk%2Fsolar-panel-products%2Fwarranty&a=here).

About Maxeon Solar Technologies

Maxeon Solar Technologies (NASDAQ:MAXN) is Powering Positive Change (TM).

Headquartered in Singapore, Maxeon designs and manufactures Maxeon (R) and

SunPower (R) brand solar panels, and has sales operations in more than 100

countries, operating under the SunPower brand in certain countries outside the

United States. The company is a leader in solar innovation with access to over

1,000 patents and two best-in-class solar panel product lines. Maxeon products

span the global rooftop and solar power plant markets through a network of more

than 1,400 trusted partners and distributors. 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 is

Powering Positive Change (TM) visit us at www.maxeon.com, on LinkedIn (https://c212.net/c/link/?t=0&l=en&o=3433169-1&h=740353403&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fmaxeon%2F&a=LinkedIn) and on Twitter @maxeonsolar (https://c212.net/c/link/?t=0&l=en&o=3433169-1&h=3083330684&u=https%3A%2F%2Ftwitter.com%2FMaxeonSolar&a=%40maxeonsolar).

Forward-Looking Statements

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 the anticipated product launch timing and our

expectations regarding ramp, customer acceptance and demand, market traction,

upsell and expansion opportunities; the company's expectations of the timing

and success of its product offering strategy in existing and in new markets,

including our anticipated areas of focus and investment, market expansion,

product and technology focus and projected growth and profitability. 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.

(C) 2022 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.

SOURCE Maxeon Solar Technologies, Ltd.

CONTACT: Investor Contact: Robert Lahey, Robert.Lahey@maxeon.com, Mobile: +1

(202) 2461-872, Media Contact: Anna Porta, Anna.Porta@maxeon.com, Mobile: +39

345 7706205