RICHMOND, Calif., Aug. 11,
2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a
leading residential solar technology and energy services provider,
released a statement regarding its supply agreement negotiations
with Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN). SunPower is
currently in discussions with Maxeon regarding a dispute over
alleged breaches of master supply agreements. During
this process, SunPower intends to continue providing the best
service, support and pricing to its dealers and customers and plans
to work jointly with Maxeon to resolve these matters.
SunPower also reaffirmed its 2023 guidance issued on
July 26, 2023.
About SunPower
SunPower (NASDAQ:SPWR) is a leading residential solar technology
and energy services provider in North
America. SunPower offers solar + storage solutions designed
and warranted by one company that give customers control over
electricity consumption and resiliency during power outages while
providing cost savings. For more information, visit
www.sunpower.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, (a) statements
regarding our strategic plans and expectations with respect to
our supplier relationships, including our negotiations with Maxeon,
and (b) our guidance for fiscal year 2023, including Net Loss,
Adjusted EBITDA per customer, incremental customers, and Adjusted
EBITDA, as well as platform investments and related assumptions.
These forward-looking statements are based on our current
assumptions, expectations and beliefs and involve substantial risks
and uncertainties that may cause results, performance or
achievement to materially differ from those expressed or implied by
these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to: (1)
our ability to successfully manage supplier relationships,
including our negotiations with Maxeon; (2) regulatory changes and
the availability of economic incentives promoting use of solar
energy; (3) potential disruptions to our operations and supply
chain that may result from epidemics or natural disasters, and
other factors; (4) competition in the solar and general energy
industry, supply chain constraints, interest rates, inflation, and
pricing pressures; (5) changes in public policy, including the
imposition and applicability of tariffs and duties; (6) our
dependence on sole- or limited-source supply relationships,
including for our solar panels and other components of our
products; (7) risks related to the introduction of new or enhanced
products, including potential technical challenges, lead times, and
our ability to match supply with demand while maintaining quality,
sales, and support standards; (8) the success of our ongoing
research and development efforts and our ability to commercialize
new products and services, including products and services
developed through strategic partnerships; (9) our liquidity,
indebtedness, and ability to obtain additional financing for our
projects and customers; and (10) the timing and execution of
restructuring plans. A detailed discussion of these factors and
other risks that affect our business is included in filings we make
with the Securities and Exchange Commission (SEC) from time to
time, including our most recent reports on Form 10-K and Form 10-Q,
particularly under the heading "Risk Factors." Copies of these
filings are available online from the SEC or on the SEC Filings
section of our Investor Relations website at
investors.sunpower.com. All forward-looking statements in this
press release are based on information currently available to us,
and we assume no obligation to update these forward-looking
statements in light of new information or future events.
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SOURCE SunPower Corp.