Maxeon posts US$14.9 million losses in delayed Q1 ’24 results
- Admin
- May 30, 2024
- 1 min read
Maxeon Solar Technologies, a Singapore-headquartered solar manufacturer, posted net losses in Q1 2024 financial results. The company will focus its future utility-scale solar business exclusively on the US market. CEO Bill Mulligan highlighted the challenging market environment and announced restructuring initiatives to secure additional capital. Maxeon plans to build a 3GW solar production facility in New Mexico and continues to operate a module assembly plant in Mexico. The company forecasts EBITDA losses for 2024 and ongoing legal disputes related to intellectual property against competitors.
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