Maxeon Solar Technologies Announces Maxeon Air ™ Solar Panels, a Disruptive Technology Platform
– Revolutionary new solar panel technology is expected to open up new markets while reducing logistics and installation costs
SINGAPORE, May 18, 2021 / PRNewswire / – Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) (the Company), a global leader in innovation and solar channels, today announced the commercialization of its new Maxeon Air ™ technology platform. The result of five years of research, development and testing, this new technological platform enables the production of frameless, thin, light and conformable solar panels with efficiency and performance equivalent to standard solar panels. Maxeon Air panels will be featured in selected projects in Europe in the second half of 2021. General product availability is expected to start in the first quarter of 2022.
“The Maxeon Air technology platform continues our legacy of 35 years of innovation in solar panel technology and once again demonstrates the ability of our R&D team to develop cutting-edge and disruptive technology,” said Jeff Waters, CEO of Maxeon Solar Technologies. “For nearly fifty years, the solar energy industry has almost exclusively used the construction of glass superstrate panels. As solar panels have increased in size and the cost of solar cells has been drastically reduced, the cost transport, installation and assembly of large glass panels has become a relatively larger part of the total system cost. With Maxeon Air technology, we can now develop products that reduce these costs while opening up whole new opportunities. such as low load commercial roofs.
Maxeon Air solar panels are conformable, ultralight, robust and fire rated certified panels that can be glued directly to the roof without the need for racks or other mounting systems. The first product launch using the technology will target installation on roofs that are not designed to support the weight of conventional solar systems. In Europe On its own, the Company estimates that there is an annual unserved market for low load roofs over 4 GW.
Maxeon Air solar panels incorporate several innovative features:
Lightweight and conformable: No metal frames and heavy glass are used in the panel, and the adhesive mounting system further reduces weight, as no rack is required. The resulting installed weight of around 6 kg / m² is less than half of conventional systems and significantly reduces the load on the roof.
Peel-and-stick design: The factory-integrated adhesive layer allows the solar panel to be installed directly on the roof surface, without a rack, anchors or ballast. This reduces installation time and minimizes business interruptions during installation. Maxeon Air solar panels are optimally sized to the standard roof membrane width.
Robust construction: Designed to accommodate uneven roof surfaces, Maxeon Air solar panels incorporate Maxeon® IBC solar cells, which incorporate a strong metal base and stress-free cellular interconnects, thus protecting against corrosion and enabling fault-tolerant circuits that allow energy flow even with cracked cells.
Leading energy efficiency: Maxeon IBC solar cells are the most efficient on the market. The resulting Maxeon Air solar panel, with a 20.9% efficiency combined with a low power temperature coefficient, shade tolerance and wide spectral response, provides maximum energy efficiency from a surface limited on the roof.
Hot spot resistance: Maxeon IBC solar cells have the unique ability to share current into reverse bias voltage while being shaded, preventing damaging or dangerous high temperatures. This feature is particularly important when the panels are glued directly to the roof.
Approved: Designed to the highest safety standards and certified for fire resistance, Maxeon Air solar panels are designed to withstand the stresses imposed by installation and long-term exposure to the elements.
“We are very happy to present another revolutionary innovation in solar energy”, commented Jeff Waters. “In addition to the team’s innovative development work on module design and materials, this new technology platform is fundamentally enabled by our unique IBC cell technology with its superior corrosion resistance and ability to bend. without harmful cracking. Perhaps equally important, Maxeon’s IBC module technology has the unique ability to pass power in the shade, continuing to produce power under conditions that would shut off other panels. This feature, along with inherently low temperature sensitivity, ensures peak performance in all conditions. “
Waters continued, “In addition to enabling new markets such as low-load commercial roofs, we believe our new Maxeon Air technology platform has the potential to bring transformative changes to other solar power applications. over time. Specifically, we believe that the use of this thin and light conformable packaging technology could also enable revolutionary products for residential roofs, floating photovoltaic systems and electric mobility. We are excited about the potential for innovation that we have. Let’s unlock with this platform and believe that these new products will help increase the adoption of solar energy and Powering Positive Change. “
The Maxeon Air solar panel will be presented to the public during “The Smarter E Industry Days” on July 21-23. Visit www.maxeon.com/air for more information.
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ: MAXN) powers Positive Change ™. Based at Singapore, Maxeon designs and manufactures Maxeon® and SunPower® brand solar panels, and has sales operations in over 100 countries, operating under the SunPower brand in select countries outside United States. The company is a leader in solar innovation with access to more than 1,000 patents and two leading solar panel product lines. Maxeon products cover the global roofing and solar power plant markets through a network of over 1,200 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon draws on a 35-year history in the solar industry and multiple awards for its technology. For more information on how Maxeon is fueling positive change ™, visit us at www.maxeon.com, at LinkedIn and on Twitter @maxeonsolar.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the expected product launch schedule and our expectations regarding ramp-up, customer acceptance and demand, market traction, upselling and expansion opportunities; the company’s estimates of the size of new markets and the company’s expectations with respect to the timing and success of its expansion strategy in existing and new markets; the company’s expectations and plans for short and long term strategy, including our areas of anticipated focus and investment, market expansion, product and technology focus, and growth and projected profitability. 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 achievements materially different from those expressed or implied by these forward-looking statements. A detailed discussion of these factors and other risks that affect our business is included in the documents we file from time to time with the Securities and Exchange Commission (“SEC”), including our most recent report on the Form. 20-F, in particular under the heading “Point 3.D. Risk factors.” Copies of these documents are available online from the SEC or in the Financials & Filings section of our Investor Relations website at www.maxeon.com/financials-filings/sec-filings. All forward-looking statements contained 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.
© 2021 Maxeon Solar Technologies, Ltd. All rights reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Visit www.maxeon.com/trademarks for more information.
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SOURCE Maxeon Solar Technologies, Ltd.