Maxeon buying Complete Solaria's shingled cell IP, dealer ops

Singapore-based Maxeon Solar Technologies Ltd (NASDAQ:MAXN) is in the process of buying the solar panel patent portfolio of California-based Complete Solaria Inc (NASDAQ:CSLR), along with its dealer channel operations and contracts.

The Singapore-based company has signed an asset purchase agreement with Complete Solaria’s subsidiary SolarCA LLC, saying that the deal will expand its offerings and enable it to speed up its direct sales. Under the agreed terms, Maxeon will acquire patents related primarily to Complete Solaria’s shingled cell solar panel technology.

“This transaction will allow Maxeon to consolidate two major shingled-cell IP portfolios, adding to the over 130 granted patents and over 80 pending patent applications for fundamental shingled solar cell panel technology that Maxeon designs and manufactures globally [..],” explained CEO Bill Mulligan.

Maxeon’s announcement comes about a month after Complete Solaria said it had signed a non-binding letter of intent to sell some of its solar panel assets in North America to an unnamed “tier-1 panel manufacturer.” The company now added that funds from the sale will help it finance its customer offerings.

Maxeon, which manufactures Maxeon and SunPower-branded solar panels, has also agreed to supply its photovoltaic (PV) panels to Complete Solaria.

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