SunPower Corporation to Supply Toshiba with 20.1 Percent Efficiency Solar Panel for Japanese Market

New 20.1 Percent Efficiency Module Continues Toshiba's High Efficiency Leadership in Japanese Residential Market

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Dec 04, 2012, 09:00 ET

SAN JOSE, Calif., Dec. 4, 2012 /PRNewswire/ -- SunPower Corporation (NASDAQ: SPWR) today announced that it will supply Toshiba with its new world-record efficiency solar panel beginning in December, extending Toshiba's solar efficiency leadership in the Japanese residential market. SunPower's new E20/250NE solar panel features a 20.1 percent efficiency rating delivering 250 watts per 72-cell module, and will be marketed exclusively by Toshiba in the Japanese homes segment. The module features the all-back contact Maxeon™ solar cell designed and manufactured by SunPower Corporation which offers world-record efficiency.

Since SunPower first partnered with Toshiba in 2010, it has delivered more than 150 MW of its high-efficiency solar panels to Toshiba. "With our new supply agreement with SunPower, Toshiba will continue to meet the growing demand for high efficiency solar systems from our customers in the Japanese residential market," said Toshiba Executive Officer, Corporate Vice President, Takeshi Yokota. "Through our solid partnership with SunPower, and the ability to exclusively sell their new 250-watt, 20.1 percent efficiency solar panel, we continue as the solar efficiency leader in Japan."

"Since 2010 we have enjoyed a strong partnership with Toshiba, a leader in the fast-growing Japanese solar market. Toshiba stands for innovation and quality, and so our brands are well matched as we work together to provide high efficiency, high reliability solar panels and systems in Japan," said Tom Werner, SunPower president and CEO. "We're confident that our new E20 / 250 watt high efficiency solar panels will drive significant growth in this market and be a win-win for both companies."

About SunPower
SunPower Corp. (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 www.sunpowercorp.com.

SunPower 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 uses words and phrases such as "to supply," "will," and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding (a) supplying Toshiba with 20.1 percent efficiency solar panels, and (b) SunPower growing the Japanese market. 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.

SUNPOWER is a registered trademark of SunPower Corporation in the U.S. and other countries. All other trademarks are the property of their respective owners.

SOURCE SunPower Corp.