Maxeon Solar Technologies Provides Strategic Business Update; Focuses On U.S. Market, Completes $94M Non-U.S. Asset Sale, And Restructures Business To Strengthen Supply Chain And Drive Growth In Residential, Commercial, And Utility Solar Sectors

Author: Benzinga Newsdesk | April 04, 2025 04:18pm

Maxeon Provides Strategic Business Update

PRNewswire

SINGAPORE, April 4, 2025 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar innovation and channels, today provided an update on key business issues, recent transactions, and transformation initiatives.

"Maxeon continues to transform its business to compete more effectively in a challenging solar market, and delivering top-tier solar panels and renewable energy solutions to our customers for the long-term remains our highest priority," said George Guo, Maxeon CEO. "While the Company still faces near-term headwinds, we are making progress in strengthening our supply chain versatility and resilience, streamlining operations, increasing efficiency, and reducing cost. We are confident in the future of solar energy and in Maxeon's ability to best meet the needs of our growing U.S. partner and IPP network."

Maxeon focuses its energy on the U.S. solar market

Maxeon has successfully concluded the previously announced transactions to strategically restructure its business portfolio and geographic market focus to concentrate exclusively on the U.S. market, where its presence and planned onshore manufacturing can create a strong platform to drive growth and success for the Company and its expanding network of partners.

As previously disclosed, Maxeon has sold certain non-U.S. assets, with proceeds to Maxeon's balance sheet of approximately $94 million dollars. These restructuring transactions have positioned Maxeon for the future, ensuring a clear focus on U.S. residential, commercial, and utility power plant markets.

 

Posted In: MAXN