maxeon

US Customs & Border Protection (CBP) has denied Maxeon’s protests made against its detention of the company’s modules brought into the US.

Maxeon opened the case in June 2023. The case concerns shingled solar cell technology patents used in Maxeon’s Performance line modules

The demise of SunPower and the ongoing struggles of Maxeon dominated the news in Q3 2024, along with forecasts of a lengthy industry downturn.

The company recorded losses of US$179.1 million in Q3, with revenues of US$88.5 million, in a continually difficult year.

Maxeon has reached an agreement-in-principle for the sale of Maxeon's EMEA, APAC and LATAM sales and marketing organisation to TCL Technology Group, the parent company of Maxeon’s majority shareholder, TCL Group.

Maxeon has announced plans to submit 'one or more protests' against CBP for its continued detainment of its modules produced in Mexico.

TCL Zhonghuan Renewable Energy is Maxeon's largest shareholder and invested almost US$200 million in the company this year.

The Nasdaq Stock Market has moved to delist Maxeon from its global select market following the fall of its share price below US$0.10.

Maxeon has published losses of US$7.8 million, alongside falling module shipments, in its financial results covering Q2 2024.

The Pomerantz Law Firm has brought a class action lawsuit against Singapore-headquartered solar manufacturer Maxeon Solar Technologies concerning whether “Maxeon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.”