Maxeon Solar Technologies and Canadian Solar Announce Settlement Agreement Resolving Patent Infringement Lawsuit
PR95557
SINGAPORE, April 20, 2022 /PRNewswire＝KYODO JBN/ --
Maxeon Solar Technologies, Ltd. ("Maxeon") (NASDAQ:MAXN) and Canadian Solar
Inc. ("Canadian Solar") (NASDAQ: CSIQ) announced today that the companies have
reached a settlement agreement resolving a patent infringement lawsuit in Tokyo
District Court, Japan. The patent infringement lawsuit alleged Canadian Solar
Japan infringed Maxeon's Japan Patent No. JP6642841B2 ("Shingled Solar Cell
Module").
Logo - https://mma.prnewswire.com/media/1275353/Maxeon_Logo.jpg
Pursuant to the terms of the settlement agreement, Canadian Solar has agreed to
withdraw challenges to Maxeon's Patent. Canadian Solar has also agreed to
discontinue selling shingled solar cell solar modules in Japan until the second
calendar quarter of 2025 after satisfying certain outstanding 2022 orders.
Further details of the settlement are confidential.
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 (
) and on Twitter @maxeonsolar (
).
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest
solar technology and renewable energy companies. It is a leading manufacturer
of solar photovoltaic modules, provider of solar energy and battery storage
solutions, and developer of utility-scale solar power and battery storage
projects with a geographically diversified pipeline in various stages of
development. Over the past 20 years, Canadian Solar has successfully delivered
around 67 GW of premium-quality, solar photovoltaic modules to customers across
the world. Likewise, since entering the project development business in 2010,
Canadian Solar has developed, built and connected over 6.3 GWp in over 20
countries across the world. Currently, the Company has 0.5 GWp of projects in
operation, nearly 6 GWp of projects under construction or in backlog
(late-stage), and an additional 19 GWp of projects in pipeline (mid- to early-
stage). Canadian Solar is one of the most bankable companies in the solar and
renewable energy industry, having been publicly listed on the NASDAQ since
2006. For additional information about the Company, follow Canadian Solar on
LinkedIn (
) or visit www.canadiansolar.com.
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 continued validity of the Company's
intellectual property rights, its ability to safeguard its intellectual
property and the status of the Company's ongoing litigation. 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 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; or Media Contact: Anna Porta, Anna.Porta@maxeon.com, Mobile:
+39 345 7706205
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