Insurance and Risk Specialist

About the Company

SunPower

Richmond, California, USA

1001-5000

<p style="background: white; margin: 6.0pt 0in 0in 0in;" data-mce-fragment="1"><strong data-mce-fragment="1"><span style="font-size: 10.5pt; font-family: 'Arial',sans-serif; color: #202122;" data-mce-fragment="1">SunPower Corporation</span></strong><span style="font-size: 10.5pt; font-family: 'Arial',sans-serif; color: #202122;" data-mce-fragment="1">&nbsp;is an American provider of&nbsp;<a style="overflow-wrap: break-word;" title="Photovoltaic system" href="https://en.wikipedia.org/wiki/Photovoltaic_system" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">photovoltaic solar energy generation systems</span></a>&nbsp;and&nbsp;<a style="overflow-wrap: break-word;" title="Energy storage" href="https://en.wikipedia.org/wiki/Energy_storage" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">battery energy storage</span></a>&nbsp;products, primarily for residential customers. The company, headquartered in&nbsp;<a style="overflow-wrap: break-word;" title="San Jose, California" href="https://en.wikipedia.org/wiki/San_Jose,_California" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">San Jose, California</span></a>, was founded in 1985 by&nbsp;<a style="overflow-wrap: break-word;" title="Richard Swanson" href="https://en.wikipedia.org/wiki/Richard_Swanson" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">Richard Swanson</span></a>, an electrical engineering professor from&nbsp;<a style="overflow-wrap: break-word;" title="Stanford University" href="https://en.wikipedia.org/wiki/Stanford_University" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">Stanford University</span></a>.&nbsp;<a style="overflow-wrap: break-word;" title="Cypress Semiconductor" href="https://en.wikipedia.org/wiki/Cypress_Semiconductor" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">Cypress Semiconductor</span></a>&nbsp;bought a majority interest in the company in 2002, growing it quickly until SunPower went public in 2005.&nbsp;<a style="overflow-wrap: break-word;" title="TotalEnergies" href="https://en.wikipedia.org/wiki/TotalEnergies" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">TotalEnergies</span></a>, a French energy and oil company purchased a controlling interest in SunPower for&nbsp;<a style="overflow-wrap: break-word;" title="United States dollar" href="https://en.wikipedia.org/wiki/United_States_dollar" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">US$</span></a>1.37&nbsp;billion in 2011.</span></p> <p style="background: white; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px; margin: 6.0pt 0in 0in 0in;" data-mce-fragment="1"><span style="font-size: 10.5pt; font-family: 'Arial',sans-serif; color: #202122;" data-mce-fragment="1">The company previously developed and manufactured&nbsp;<a style="overflow-wrap: break-word;" title="Photovoltaic panels" href="https://en.wikipedia.org/wiki/Photovoltaic_panels" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">photovoltaic panels</span></a>, before&nbsp;<a style="overflow-wrap: break-word;" title="Corporate spin-off" href="https://en.wikipedia.org/wiki/Corporate_spin-off" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">spinning off</span></a>&nbsp;that part of its business in 2020 as&nbsp;<a style="overflow-wrap: break-word;" title="Maxeon Solar Technologies" href="https://en.wikipedia.org/wiki/Maxeon_Solar_Technologies" data-mce-fragment="1"><span style="font-size: 12.0pt; font-family: 'Times New Roman',serif; color: #202122; text-decoration: none; text-underline: none;" data-mce-fragment="1">Maxeon Solar Technologies</span></a>. The company had also previously marketed its products to commercial and industrial customers before agreeing to sell that business line to TotalEnergies in February 2022.</span></p>