Maxeon posts US$14.9 million losses in delayed Q1 ’24 results
- Admin
- May 31, 2024
- 1 min read
Maxeon Solar Technologies, a Singapore-headquartered solar manufacturer, reported a net loss in Q1 2024. The company announced a future focus exclusively on the US market. CEO Bill Mulligan mentioned the challenges faced by Maxeon and the need for additional capital. The company received financing from TCL Zhonghuan Renewable Energy. Maxeon revealed plans for utility-scale solar operations in the US, sale of stake in a Chinese company, and lawsuits against competitors over intellectual property. The financial outlook includes EBITDA losses for 2024 and anticipated revenues.
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