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SunPower Confirms No Financial Exposure to Silicon Valley Bank

RICHMOND, Calif., Mar. 10, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, confirmed today that neither the company nor its customer financing business SunPower Financial have any financial exposure to Silicon Valley Bank as a borrower, lender, or depositor.  The company also confirmed that its investments in the SunStrong Capital Holdings, LLC, Dorado Development Partners, LLC, and SunStrong Partners, LLC joint ventures have no financial exposure to Silicon Valley Bank, in each case as a borrower, lender, or depositor.  

About SunPower

SunPower (NASDAQ: SPWR) is a leading solar technology and energy services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. For more information, visit www.sunpower.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected business plans. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives promoting the use of solar energy and our products, and other challenges in executing plans that are key to our growth. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.