By Denny Jacob
Complete Solaria completed its previously disclosed asset sale, supporting its plan to achieve profitability in 2024.
The solar company’s asset sale, which included its dealer channel operations and contracts, went to Maxeon Solar Technologies for 1.1 million shares. The agreement also included a provision for the supply of Maxeon’s solar panels to Complete Solaria.
Complete Solaria said Wednesday the transaction provides further financial flexibility, lower operating costs and expanding margins, further supporting efforts to achieve profitability in 2024.
Chief Executive Will Anderson said the asset sale lets the company continue its strategic shift to its highest margin “total-service model” in which it designs, installs and warranty full solar systems in a pivot away from manufacturing.
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