- Maxeon Solar has signed an asset purchase agreement with Complete Solaria in the US
- With this, Complete Solaria’s SolarCA LLC will sell its shingled solar panel patent portfolio to Maxeon
- The Singapore-based company will also acquire dealer channel operations and contracts from the seller in the US
Singapore-headquartered Maxeon Solar Technologies is to acquire the shingled solar panel patent portfolio from Complete Solaria’s subsidiary SolarCA LLC. The deal will also bring Solaria’s dealer channel operations and contracts to Maxeon’s fold.
Known as Solaria Corporation before its merger with solar installer Complete Solar in November 2022, Complete Solaria will transfer the patent and the rest under an asset purchase agreement with Maxeon. The latter will also supply its high-efficiency solar panels to Complete Solaria to market in the US.
Solar modules using shingled cell technology have cells cut into some 6 strips that are then overlaid as tiles. This process is known to eliminate gaps on a panel and said to improve overall efficiency of the module. It has led to patent lawsuits among many companies, including both Solaria and Maxeon.
In June 2022, then Solaria, the company settled its patent infringement lawsuit against Canadian Solar for violating its shingled solar technology by getting the latter to agree not to sell such modules in the US market for 7 years (see Patent Settlement For Solaria & Canadian Solar).
Maxeon also got Canadian Solar to agree to keep its shingled solar panels away from Japan till Q2/2025 in a similar patent lawsuit. In June 2023, Maxeon dragged Tongwei Solar of China to the court accusing it of infringing on its patented shingled solar cell technology (see Another Patent Fight Brewing).
“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, and which we plan to use in our announced cell and module manufacturing facility in Albuquerque, New Mexico,” explained Maxeon CEO Bill Mulligan.
Maxeon is to set up its 1st US manufacturing facility with 3 GW TOPCon PV-silicon cell and 3 GW shingled-cell Performance Line modules capacity in Albuquerque, New Mexico (see Maxeon Picks New Mexico For New Solar Fab).
Maxeon is looking at Complete Solaria’s nationwide dealer channel to help expand its distributed generation market footprint in the US.
At the same time, for the SunPower Corporation’s manufacturing spin-off, the transaction ‘enables immediate access to a qualified source of tariff-free solar panels’. Maxeon plans to market these panels alongside its own flagship interdigitated back contact (IBC) solar panels in the country.
Complete Solaria said it will use the capital from this deal to concentrate on its core systems segment.