Maxeon Solar Technologies
Maxeon Solar Technologies, Ltd. is a Singapore-based company that designs and manufactures photovoltaic panels. The company was previously a division of the American SunPower company before it was spun off in August 2020. Maxeon is still the primary provider of solar panels for SunPower. Beyond the United States, Maxeon has sales operations in more than 100 countries and has the rights to use the SunPower brand in some of those countries.
| Company type | Public |
|---|---|
| |
| Industry | Renewable energy |
| Predecessor | SunPower |
| Founded | August 2020 |
| Headquarters |
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Area served | Worldwide |
Key people | |
| Revenue | US$1.06 billion (2022) |
| US$−200 million (2022) | |
| US$−267 million (2022) | |
| Total assets | US$1.26 billion (2022) |
| Total equity | US$48 million (2022) |
| Owner |
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Number of employees | 5,344 (2022) |
| Website | maxeon |
| Footnotes / references Financials as of 1 January 2023. References: | |
When SunPower spun-off Maxeon, the Tianjin Zhonghuan Semiconductor Company invested $298 million for a 29% interest in Maxeon. Chinese technology company TCL later purchased Tianjin Zhonghuan Semiconductor, becoming a major investor in Maxeon. SunPower investor TotalEnergies also kept a significant ownership stake in Maxeon.
Its products are known for being more expensive, but producing energy more efficiently than competing products. Maxeon panels are often used when there is a limited amount of space for the panels, such as on rooftops.
Ordinarily, the electrical contacts are on the front of a solar panel, facing the sun. The front of Maxeon's panels channel the light to electrical contacts on the back of the panel, reducing the amount of sunlight that is reflected rather than turned into energy.