SINGAPORE, Nov. 14,
2023 /PRNewswire/ -- Maxeon Solar Technologies, Ltd.
(NASDAQ: MAXN) ("Maxeon" or "the Company"), a global leader in
solar innovation and channels, today announced it has brought on
board Donald J. Foldenauer as
General Manager of its new Mesa Del Sol solar cell and module
factory in Albuquerque, New
Mexico.
The facility is expected to be the first large-scale PV cell and
panel manufacturing in New Mexico,
and its planned capacity is approximately double the size of the
largest silicon solar manufacturing facility currently operating in
the U.S.
In this newly created role, Foldenauer will lead the re-shoring
and scaling up of Maxeon's U.S. domestic supply chain, a market
poised for growth in both the utility-scale and residential solar
power sectors. Maxeon announced in August its plans for the Mesa
Del Sol facility, which is expected to create up to 1,500 highly
skilled manufacturing jobs.
"We're excited to have Don take the helm of this critical
expansion of our U.S. business as Maxeon seeks to play a pivotal
role in developing a self-sufficient domestic solar supply chain.
His experience in scaling manufacturing operations of advanced
engineered products, creating new production lines, and building
exceptional teams all make him a great fit with our ambitious
growth plans," said Bill Mulligan,
Maxeon CEO.
Foldenauer is an accomplished leader with over 35 years of
experience managing diverse teams and driving operations in the
U.S. semiconductor, advanced materials, and solar manufacturing
sectors. Before joining Maxeon, he served in the role of vice
president of operations at Yield Engineering Systems as well as
Jabil and Celestica.
Maxeon expects to begin construction of the Mesa Del Sol
facility in the first quarter of 2024, with factory ramp-up to
commence in 2025. The facility will produce Maxeon's
latest-generation TOPCon PV-silicon cell technology and the
Company's proprietary shingled-cell Performance Line solar modules
to meet rapidly growing demand for domestically produced solar
panels.
To know more on Maxeon's sustainable manufacturing, visit
https://corp.maxeon.com/company/manufacturing
About Maxeon Solar Technologies
Maxeon Solar
Technologies, Ltd. (NASDAQ:MAXN) is Powering Positive Change™.
Headquartered in Singapore, Maxeon designs and manufactures
Maxeon® and SunPower® brand solar panels, and has sales operations
in more than 100 countries, operating under the SunPower brand in
certain countries outside the United States. Maxeon is a
leader in solar innovation with access to over 1,000 patents and
two best-in-class solar panel product lines. Maxeon products span
the global rooftop and solar power plant markets through a network
of more than 1,700 trusted partners and distributors. A pioneer in
sustainable solar manufacturing, Maxeon leverages a +35-year
history in the solar industry and numerous awards for its
technology.
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, as amended, but not limited to,
statements regarding the Company's expectations of success in and
timing related to its management and growth and expansion strategy;
the Company's expectations regarding customer demand, growth
projections, economic impact and energy security and the Company's
expectations regarding future performance based on our technology
outlook and the operational efficiency of our supply chain. These
forward-looking statements can be identified by terminology such as
"will," "expects," "confident," "enhance," and similar statements.
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
achievement to materially differ 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
filings we make with the SEC from time to time, 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 on the
Financials & Filings section of our Investor Relations website
at www.maxeon.com/financials-filings/sec-filings. All
forward-looking statements 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.
©2023 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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SOURCE Maxeon Solar Technologies, Ltd.