SunPower

SunPower Secures Additional Capital to Drive Ongoing Transformation

Retrieved on: 
Thursday, February 15, 2024

RICHMOND, Calif., Feb. 15, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR) (the "Company" or "SunPower"), a leading residential solar technology and energy services company, today announced that it has raised $175 million in capital financing through a second lien term loan from Sol Holding, LLC ("Sol Holding"), the Company's majority shareholder and an indirect subsidiary of TotalEnergies and Global Infrastructure Partners. The $175 million term loan includes $45 million previously funded to the Company in December and January, $80 million in new investment, and a $50 million second tranche that is available to be borrowed upon the satisfaction of certain conditions. In connection with the Second Lien Credit Agreement, the Company agreed to issue penny warrants to Sol Holding to purchase up to approximately 41.8 million shares of the Company's common stock with an additional 33.4 million of warrants issued if the $50 million second tranche of the term loan is drawn. This funding positions the Company to navigate current industry headwinds and further reinforce its foundation for a more sustainable, resilient and agile business.

Key Points: 
  • Together, these actions provide the Company with up to $155 million of additional liquidity.
  • "With this injection of additional liquidity and working capital to our balance sheet, coupled with substantial cost reductions, SunPower is taking positive steps to position itself to succeed in 2024 and beyond."
  • SunPower will discuss its full year and fourth quarter 2023 financial results on Thursday, Feb. 15 at 8 a.m.
  • Analysts intending to participate in the Q&A session must register for a personal link and dial-in at: https://register.vevent.com/register/BI49f0f6c1dcda48db936395f3333e1574 .

SunPower Provides Update on Discussions with Key Financial Partners

Retrieved on: 
Thursday, February 1, 2024

RICHMOND, Calif., Feb. 1, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that it has received additional waiver extensions from Atlas Securitized Products Holdings, L.P., and Bank of America, providing for the extension of the latest temporary waivers until February 16, 2024.

Key Points: 
  • RICHMOND, Calif., Feb. 1, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that it has received additional waiver extensions from Atlas Securitized Products Holdings, L.P., and Bank of America, providing for the extension of the latest temporary waivers until February 16, 2024.
  • Additionally, the Company announced the receipt of commitments for $20 million in financing from its majority shareholders TotalEnergies and Global Infrastructure Partners.
  • SunPower will use the runway afforded by this financing and the extensions to continue discussions with key financial partners as it evaluates all strategic alternatives toward a long-term financial solution.

Pigment Triples Global Revenue and Doubles End Users as It Welcomes Landmark Customers, Adds Key Hire and Expands Offerings

Retrieved on: 
Wednesday, January 31, 2024

SAN FRANCISCO, Jan. 31, 2024 /PRNewswire/ -- Pigment, the business planning platform, today announced that it has tripled its annual recurring revenue globally, and grew it by 4x in North America in the past year, making the region its largest revenue-generating geography today. The figures highlight an incredibly successful year for the company as it continues to expand its offerings and global customer base into the enterprise and beyond.

Key Points: 
  • The figures highlight an incredibly successful year for the company as it continues to expand its offerings and global customer base into the enterprise and beyond.
  • Along with its impressive revenue growth, Pigment also doubled its global end users and customer base, adding brands such as Unilever, PVH (Calvin Klein and Tommy Hilfiger), Fivetran, Ken's Foods, Poshmark, and Miro.
  • In the past year, Pigment released more than 100 innovations including Org Chart, Automations, new data connectors, security enhancements and other enterprise-grade capabilities.
  • As it plans for the new year, Pigment is excited to announce the hire of Jay Peir as Head of Strategy.

Pigment Triples Global Revenue and Doubles End Users as It Welcomes Landmark Customers, Adds Key Hire and Expands Offerings

Retrieved on: 
Wednesday, January 31, 2024

SAN FRANCISCO, Jan. 31, 2024 /PRNewswire/ -- Pigment, the business planning platform, today announced that it has tripled its annual recurring revenue globally, and grew it by 4x in North America in the past year, making the region its largest revenue-generating geography today. The figures highlight an incredibly successful year for the company as it continues to expand its offerings and global customer base into the enterprise and beyond.

Key Points: 
  • The figures highlight an incredibly successful year for the company as it continues to expand its offerings and global customer base into the enterprise and beyond.
  • Along with its impressive revenue growth, Pigment also doubled its global end users and customer base, adding brands such as Unilever, PVH (Calvin Klein and Tommy Hilfiger), Fivetran, Ken's Foods, Poshmark, and Miro.
  • In the past year, Pigment released more than 100 innovations including Org Chart, Automations, new data connectors, security enhancements and other enterprise-grade capabilities.
  • As it plans for the new year, Pigment is excited to announce the hire of Jay Peir as Head of Strategy.

SunPower to Announce Full Year and Fourth Quarter 2023 Results on February 15, 2024

Retrieved on: 
Monday, January 22, 2024

RICHMOND, Calif., Jan. 22, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) will discuss its full year and fourth quarter 2023 financial results on Thursday, Feb. 15 at 8:00 a.m. ET. Analysts intending to participate in the Q&A session must register for a personal link and dial-in at: https://register.vevent.com/register/BI49f0f6c1dcda48db936395f3333e1574

Key Points: 
  • RICHMOND, Calif., Jan. 22, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) will discuss its full year and fourth quarter 2023 financial results on Thursday, Feb. 15 at 8:00 a.m.
  • ET.
  • Analysts intending to participate in the Q&A session must register for a personal link and dial-in at: https://register.vevent.com/register/BI49f0f6c1dcda48db936395f3333e1574
    The results are scheduled to be released at 7:45 a.m.
  • ET.

Dual Axis Solar Tracker Market to Reach US$ 13.76 Billion by 2030, Rising at a CAGR of 11.4% | Report by CoherentMI

Retrieved on: 
Friday, January 19, 2024

Solar photovoltaic-based dual axis solar trackers are widely used due to their compatibility with solar PV modules.

Key Points: 
  • Solar photovoltaic-based dual axis solar trackers are widely used due to their compatibility with solar PV modules.
  • Their efforts towards developing advanced solar tracking solutions are expected to drive the growth of the dual axis solar tracker market.
  • Two key trends observed in the Dual Axis Solar Tracker Market are the increasing adoption of solar energy in emerging economies and the technological advancements in solar tracking systems.
  • Another market opportunity in the dual axis solar tracker market lies in the continuous advancements in solar tracking technologies.

Dual Axis Solar Tracker Market to Reach US$ 13.76 Billion by 2030, Rising at a CAGR of 11.4% | Report by CoherentMI

Retrieved on: 
Friday, January 19, 2024

Solar photovoltaic-based dual axis solar trackers are widely used due to their compatibility with solar PV modules.

Key Points: 
  • Solar photovoltaic-based dual axis solar trackers are widely used due to their compatibility with solar PV modules.
  • Their efforts towards developing advanced solar tracking solutions are expected to drive the growth of the dual axis solar tracker market.
  • Two key trends observed in the Dual Axis Solar Tracker Market are the increasing adoption of solar energy in emerging economies and the technological advancements in solar tracking systems.
  • Another market opportunity in the dual axis solar tracker market lies in the continuous advancements in solar tracking technologies.

ConsumerAffairs recognizes 18 top companies with inaugural Buyer's Choice Awards, based on innovative "emotional decoding" of consumer reviews

Retrieved on: 
Thursday, January 18, 2024

ConsumerAffairs is known for collecting the most detailed, authentic reviews of companies and difficult purchases.

Key Points: 
  • ConsumerAffairs is known for collecting the most detailed, authentic reviews of companies and difficult purchases.
  • Each review analyzed for the 2024 Buyer's Choice Awards was conducted via phone interview or detailed questionnaire in 2023.
  • Reviews of solar purchasing platform SunPower earned it the Buyer's Choice Awards for Best Customer Service and Best Value for Price.
  • For more information about the Buyer's Choice Awards and the recognized companies, please visit the awards page .

Off-grid solar power systems market to grow by USD 3.27 billion from 2022 to 2027, APAC will account for 48% of the market growth- Technavio

Retrieved on: 
Thursday, January 18, 2024

NEW YORK, Jan. 17, 2024 /PRNewswire/ -- The off-grid solar power systems market size is expected to grow by USD 3.27 billion from 2022 to 2027, according to Technavio.

Key Points: 
  • NEW YORK, Jan. 17, 2024 /PRNewswire/ -- The off-grid solar power systems market size is expected to grow by USD 3.27 billion from 2022 to 2027, according to Technavio.
  • The global off-grid off-grid solar power systems market is expected to grow rapidly during the forecast period due to the High cost of grid expansion.
  • Canadian Solar Inc. - The company offers off-grid solar power systems such as distributed solar power systems and energy storage systems.
  • Off-grid Solar Power Systems Market 2023-2027: Segmentation Analysis
    Based on type, the market has been segmented into AC and DC.

Tandem PV Raises Additional $6 Million to Accelerate Perovskite Commercialization

Retrieved on: 
Tuesday, January 16, 2024

Tandem PV, a pioneering force in perovskite solar technology, has raised an additional $6 million, bringing its total to $27 million in venture capital and government support.

Key Points: 
  • Tandem PV, a pioneering force in perovskite solar technology, has raised an additional $6 million, bringing its total to $27 million in venture capital and government support.
  • "We have been consistently told by some of the world's foremost solar industry experts that Tandem PV has the best combination of high efficiency and durability of any perovskite panel in commercial development," Wharton said.
  • The company is producing tandem perovskite panels with 26% efficiency, which is roughly 25% more powerful than the average silicon solar panel.
  • Wharton joined Tandem PV from Logitech, where he grew the company’s video collaboration business from $62 million to a global market leader with over $1 billion in annual revenue.