Benzinga | Apr 6, 2021 04:10PM EDT

Maxeon Solar Technologies Announces Initiative to Expand Engagement in U.S. Solar Power Market

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a global leader in solar innovation and channels, today announced a major new initiative to expand its engagement in the rapidly growing U.S. solar power market. The Company plans to increase its focus on selling its Performance line shingled module technology in the U.S., facilitated by the deployment of up to 3.6 GW of new shingled module assembly capacity in two phases. The expansion is contingent upon the Company obtaining debt or equity financing to purchase the equipment, after which initial sales are expected to start in the first quarter of 2022.