RELEASE: Maxeon presents the new SunPower Performance 7 solar panels with Cradle to Cradle certification (1)

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Innovative TOPCon design recognized for its exceptional sustainability, quality and reliability

SINGAPORE, April 18, 2024 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar products and innovation, has once again raised the bar for the solar industry with its new line of solar panels SunPower Performance 7 designed for distributed generation (DG) projects. Performance 7 panels feature a proprietary cell design and circuitry combined with quality materials to provide exceptional reliability and power production, and are the latest Maxeon product to receive Cradle to Cradle™ certification for exceptional Cradle sustainability. to Cradle Products Innovation Institute.

SunPower Performance 7 solar panels feature the latest generation of Maxeon's patented TOPCon cell technology in a Shingled-type cell design. This innovative architecture offers significant advantages in power, efficiency, reliability and aesthetics. Performance 7 solar panels have also been designed for more effective shade management, hot spot mitigation and cooler cell temperatures than standard panels.

"Maxeon has built a strong patent portfolio over nearly four decades of innovation, which is providing exceptional value for our customers, thanks to new product launches like SunPower Performance 7," said Bill Mulligan, CEO of Maxeon. . "We are confident that the new Performance line offers the right combination of price and performance, helping our customers achieve their financial and energy goals, with the peace of mind that comes with our industry-leading comprehensive warranty."

Made from high-quality materials in a robust glass-glass construction, Performance 7 solar panels are designed to withstand challenging real-world conditions such as hail, wind, snow, and extreme temperature changes. Improvements in temperature coefficients, bifacial factor and annual degradation also help ensure reliable, long-term energy performance for customers. As a result, Performance 7 solar panels are offered with a best-in-class 30-year enhanced power, product and service warranty, more comprehensive than standard solar panel warranties.

"Maxeon's exceptional transparency and relationship with its supply chain made this process go smoothly and demonstrated its commitment not only to Cradle to Cradle® Certification, but also to maintaining these relationships with its service partners. recycling, customers and installers to achieve their long-term sustainability goals," explained Michelle Molloy, CEO of MBDC. "We are proud to have worked with Maxeon throughout this process and look forward to continuing this relationship to foster change throughout the solar technology industry."

To earn the coveted Cradle to Cradle Certified Bronze distinction, MBDC, a certified C2C testing body, evaluated and inspected Maxeon's entire Performance 7 production process and value chain. MBDC used version 3.1 of the multi-attribute Cradle to Cradle certified product standard. by the Institute, including material health, material reuse, renewable energy and carbon management, water stewardship, and social justice.

"Maxeon has proven once again that there is a better way to enable solar customers to achieve their renewable energy goals, with products that excel across a wide range of sustainability metrics," said Lindsey Wiedmann, Chief Legal and Sustainability Officer. by Maxeon. "We are very proud that our new Performance range panels are now Cradle to Cradle certified, allowing our customers to achieve LEED certification (as C2C is a positive factor for LEED certification) and achieve their other key objectives as they further reduce their carbon footprint.

The new Performance 7 panels are immediately available for purchase to residential and commercial customers in EMEA and APAC through networks of authorized distributors and installers.

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About Maxeon Solar Technologies Maxeon Solar Technologies (NASDAQ:MAXN) is driving positive change™. Headquartered in Singapore, Maxeon leverages more than 35 years of solar energy leadership and more than 1,650 patents to design innovative and sustainable solar panels and energy solutions for residential, commercial and power plant customers. Maxeon Integrated Home Energy Management is a flexible ecosystem of products and services, built around award-winning Maxeon® and SunPower® brand solar panels. With a network of more than 1,700 trusted partners and distributors, and more than one million customers worldwide, the company is a global leader in solar energy. For more information, visit us at www.maxeon.com, on LinkedIn and Twitter.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our technological outlook and future performance. ; our expectations regarding customer acceptance, demand and market traction; our expectations and plans for short- and long-term strategy, including our focus on products and technology; the effectiveness of our environmental and sustainability efforts and our ability to achieve expected benefits; incorporating governance-based, sustainable or environmentally beneficial features into our management, during the development of new projects or processes, or the implementation of improvements to existing projects and processes; our relationships with our stakeholders and our ability to develop and maintain them. Among other things, quotes from management in this press release contain forward-looking statements. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve uncertainties that may cause results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. A detailed discussion of these factors and other risks affecting our business is included in the filings we periodically file with the SEC, including our Form 20-F, particularly under the heading "Item 3.D. Risk Factors." Copies of these filings are available online from the SEC or in the Finance and 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 undertake no obligation to update these forward-looking statements in light of new information or future events.

©2024 Maxeon Solar Technologies, Ltd. All rights reserved. MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd. Visit https://corp.maxeon.com/trademarks for more information.

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