Maxeon Solar Technologies announced it is purchasing certain assets from SolarCA, a subsidiary of Complete Solaria. These include Solaria’s dealer channel operations and contracts, as well as Solaria’s solar panel patent portfolio.
Solaria, which was headquartered in California but produced solar panels in South Korea, was a leader in shingled-cell technology. The company used a network of residential installation partners throughout the United States. Last year, the panel company merged with California-based residential sales platform provider Complete Solar to form a new company: Complete Solaria.
“We will be very happy to welcome Solaria’s dealer channel sales operations to the Maxeon family following close of the transaction,” said Maxeon CEO Bill Mulligan. “We expect that this transaction will expand our U.S. 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.”
Solaria, at one time, was in a heated court battle with Canadian Solar after accusing the company of stealing Solaria’s shingled-module tech. The U.S. International Trade Commission (ITC) did find that Canadian Solar was infringing on Solaria’s IP, and Solaria was hopeful that Canadian Solar would be prevented from importing and selling shingled modules in the United States. Maxeon now holds all of these significant shingled-module patents.
“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, and which we plan to use in our announced cell and module manufacturing facility in Albuquerque, New Mexico,” Mulligan said.
Complete Solaria will continue operating as a residential sales platform now with supply of Maxeon high-efficiency solar panels.
Complete Solaria CEO Will Anderson said, “We are pleased that Maxeon will be taking advantage of our work building an extensive patent portfolio and a nationwide dealer channel. Maxeon, with its strong manufacturing expertise, global footprint and supply chain capability is well equipped to advance the solar panel product line. This transaction will provide Complete Solaria with capital to optimize our end-to-end customer offering, including beautiful, high-quality solar energy systems with Maxeon premium, high performance solar panels. Concentrating on our core systems segment will benefit both our business and our shareholders.”