SunPower Corporation and Toshiba Extend Long-Standing Partnership through 2018
SAN JOSE, Calif., Dec. 4, 2012
SAN JOSE, Calif., Dec. 4, 2012 /PRNewswire/ -- SunPower Corporation (NASDAQ:
SPWR) today announced that is has extended its long-standing partnership with
Toshiba through 2018. Toshiba has sold SunPower Corporation's world leading
technology solar panels since 2010, making Toshiba the efficiency leader in
the Japanese residential market.
Under the terms of the master supply agreement, SunPower will provide more
than 100 megawatts of its highest-efficiency residential solar panels annually
exclusively to Toshiba. Toshiba will offer solar systems with SunPower's
highest efficiency solar modules in the rapidly growing Japanese residential
market. Since the company first partnered with Toshiba in 2010, it has
delivered more than 150 MW of its high-performance solar panels.
"Toshiba has become a leading provider of high efficiency solar systems to the
Japanese residential market and this extended agreement means we will continue
to deliver the most reliable photovoltaic systems in the country for years to
come," said Toshiba Executive Officer, Corporate Vice President, Takeshi
Yokota. "We greatly value our partnership with SunPower and the opportunity
to market their premium product systems."
"Our strong partnership with Toshiba has been instrumental in our rapid growth
in the Japanese residential market," said Tom Werner, SunPower Corporation
president and CEO. "Extending our partnership through 2018 provides further
certainty in a region that values our high efficiency, high reliability,
guaranteed performance solar panels."
About SunPower Corporation
SunPower Corporation (NASDAQ: SPWR) designs, manufactures and delivers the
highest efficiency, highest reliability solar panels and systems available
today. Residential, business, government and utility customers rely on the
company's quarter century of experience and guaranteed performance to provide
maximum return on investment throughout the life of the solar system.
Headquartered in San Jose, Calif., SunPower has offices in North America,
Europe, Australia, Africa and Asia. For more information, visit
SunPower Corporation Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that do not represent historical facts and may be
based on underlying assumptions. SunPower Corporation uses words and phrases
such as "agreement," "will" and similar expressions to identify
forward-looking statements in this press release, including forward-looking
statements regarding the sale of more than 100 megawatts of solar panels to
Toshiba and extending its relationship with Toshiba through 2018. Such
forward-looking statements are based on information available to the company
as of the date of this release and involve a number of risks and
uncertainties, some beyond the company's control, that could cause actual
results to differ materially from those anticipated by these forward-looking
statements, including risks and uncertainties such as: (i) the company's
ability to obtain and maintain an adequate supply of raw materials; (ii)
general business and economic conditions, and the growth in the Japanese
market for SunPower products; (iii) the continuation of governmental and
related economic incentives promoting the use of solar power; (iv)
manufacturing difficulties; (v) Toshiba's continued business relationship with
SunPower; and (vi) other risks described in the company's Annual Report on
Form 10-K for the year ended January 1, 2012 and Quarterly Reports on Form
10-Q for the quarters ended April 1, 2012, July 1, 2012 and September 30, 2012
and other filings with the Securities and Exchange Commission. These
forward-looking statements should not be relied upon as representing the
company's views as of any subsequent date, and the company is under no
obligation to, and expressly disclaims any responsibility to, update or alter
its forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE SunPower Corp.
Contact: Helen Kendrick, SunPower Corporation, +1-408-240-5585,
firstname.lastname@example.org, or Sachiko Masuda, Burson-Marsteller Tokyo, +81 3
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