Maxeon Solar Technologies, a solar manufacturer, has completed the acquisition of selected assets from California-based solar company Complete Solaria. Concurrently, the two companies have entered into a module supply agreement, solidifying their collaboration in the solar energy sector.
The assets acquired by Maxeon encompass Solaria's dealer channel operations and associated contracts, along with Solaria's solar patent portfolio, primarily focused on shingled cell solar panel technology. Maxeon is already engaged in the production of shingled cell technology panels and previously took legal action against fellow manufacturer Tongwei Solar in Germany earlier this year over related patent matters.
See also: Maxeon Solar Completes Expansion of PV Manufacturing Plant in Mexico
Maxeon's CEO, Bill Mulligan, outlined the strategic significance of the transaction, stating, “We expect that this transaction will expand our US DG market footprint in two ways. First, incorporation of Solaria's nationwide dealer channel will inject infrastructure, capabilities, and reach that should meaningfully accelerate our direct sales efforts.”
“Second, this transaction enables immediate access to a qualified source of tariff-free solar panels that we plan to market adjacent to our flagship IBC solar panels, allowing us to replicate in the US market the ‘better-best' product strategy we have successfully employed in our international markets for years.”
In August, Maxeon announced plans to establish a 3GW integrated cell and module manufacturing plant in Albuquerque, New Mexico, with the capacity to produce shingled cell technology panels, tunnel oxide passivated contact (TOPCon) cells, and modules. Mulligan indicated that the acquired patents from Solaria would play a pivotal role in this manufacturing facility, noting, “Finally, this transaction will allow Maxeon to consolidate two major shingled cell IP portfolios, adding to the over 130 granted patents and over 80 pending patent applications for fundamental shingled solar cell panel technology that Maxeon designs and manufactures globally.”
See also: Maxeon considers expanding US manufacturing capacity with new solar module assembly plant
Complete Solaria, a company formed in October 2022 through the merger of module producer Solaria Corporation and solar services provider Complete Solar, is set to optimize its core systems segment with the capital generated from this transaction. The company's CEO, Will Anderson, emphasized the focus on providing high-quality solar energy systems, including Maxeon's premium, high-performance solar panels, as part of their end-to-end customer offering.
This strategic move by Maxeon Solar Technologies represents a significant step in expanding its presence in the solar energy market, reinforcing its commitment to innovation and sustainability.
