Maxeon Solar Technologies and Canadian Solar Announce Settlement Agreement Resolving Patent Infringement Lawsuit

PVTIME – Maxeon Solar Technologies, Ltd. (“Maxeon”) (NASDAQ:MAXN) and Canadian Solar Inc. (“Canadian Solar”) (NASDAQ: CSIQ) announced today that the companies have reached a settlement agreement resolving a patent infringement lawsuit in Tokyo District Court, Japan. The patent infringement lawsuit alleged Canadian Solar Japan infringed Maxeon’s Japan Patent No. JP6642841B2 (“Shingled Solar Cell Module”).

Pursuant to the terms of the settlement agreement, Canadian Solar has agreed to withdraw challenges to Maxeon’s Patent. Canadian Solar has also agreed to discontinue selling shingled solar cell solar modules in Japan until the second calendar quarter of 2025 after satisfying certain outstanding 2022 orders. Further details of the settlement are confidential.