Maxeon Solar Technologies Announces First Quarter 2022 Financial Results

Source: www.gulfoilandgas.com 5/26/2022, Location: Asia

Maxeon Solar Technologies, Ltd., a global leader in solar innovation and channels, has announced its financial results for the first quarter ended April 3, 2022.

Maxeon's Chief Executive Officer Jeff Waters noted, "We kicked off 2022 with another record DG performance in Europe and the unveiling of our SunPower One ecosystem which we will start launching in various regions across the globe this year. Our module sales were up over 75% year over year in Europe and in certain countries our mix of AC module sales exceeded 40%. In US Utility-Scale, we're now negotiating terms for 2024 deliveries and we're thrilled to see the first module containers leave our facilities in Mexico and arrive successfully at our customer's project site.

While supply chain conditions remain challenging, we remain focused on executing on our key transformation initiatives - specifically the ramping of our Maxeon 6 and Performance line for the US market which are critical for enabling our return to profitability in 2023. Maxeon 6 is scheduled to be fully ramped to 500MW in the second half of 2022 and Performance line capacity for the US market is scheduled to be fully ramped in the first half of 2023. As these projects near completion, our focus will pivot to Maxeon's next transformation steps led by Maxeon 7, the ramp of storage sales, direct US residential market entry and North America capacity expansion."


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