The present trading session has witnessed a significant surge of 12.06% in the shares of Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), presently evaluated at $3.21. The company filed a lawsuit alleging patent infringement, which correlated with the notable increase in MAXN shares.
In the Eastern District of Texas, Maxeon Solar (MAXN) has stated that it has filed a case alleging patent infringement against Canadian Solar, Inc. Using its TOPCon (Tunnel Oxide Passivated Contact), MAXN accused Canadian Solar of violating a patent.
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Global patent portfolio consisting of more than 330 pending applications and more than 1,650 awarded patents protects the innovations of Maxeon IBC, Shingled Hypercell, and TOPCon technologies. Maxeon boasts a rich legacy in the development of solar cell technology, spearheading the advancement and commercialization of tunnel oxide passivated contacts.
Long before the term ‘TOPCon’ gained traction in the industry to describe a tunnel oxide passivated contact-based solar cell, MAXN’s scientists and engineers had devised numerous methods to integrate TOPCon technology into both front as well as back contact solar cells.
Maxeon holds numerous patents related to TOPCon technology, with innovations tracing back to fundamental TOPCon solar cell architectures as early as the 2000s. This marks MAXN’s initial endeavor to assert its valuable patent rights in the United States, with a commitment to vigorously defending its patent rights in the U.S. and other key markets.
Furthermore, MAXN has recently bolstered its technological leadership by attaining another leading efficiency rating benchmark for its solar panels. The Company has unveiled a module aperture efficiency measurement of 24.9% for its Maxeon 7 panel, corroborated by testing conducted at the U.S. National Renewable Energy Laboratory (NREL).
Maxeon’s latest efficiency milestone builds upon its extensive track record of delivering the industry’s most advanced solar panels, further solidifying the “champion module efficiency” lead of MAXN panels previously validated by NREL testing in 2023.
Additionally, Maxeon has affirmed that their back-contact (IBC) panels are IEC-certified for hail impact resistance of up to 45mm diameter, surpassing competing solar panels currently available on the market. Attaining this exceptional resistance standard enhances reliability and durability, thereby supporting a broader array of solar installations worldwide.
