Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) and Shanghai Aiko Solar Energy Co., Ltd. (hereinafter referred to as "Aiko") today announced that the two parties have formally reached an agreement to license Maxeon's Back Contact (BC) solar cell and module patents.

Pursuant to the agreement, Aiko will obtain a license to all of Maxeon's BC solar cell and module patents outside of the United States, including both existing patents and those to be newly added over the next five years. Also pursuant to the agreement, Maxeon has agreed to fully withdraw and terminate all pending and potential patent enforcement actions against Aiko, and Aiko has agreed to withdraw and terminate all invalidation efforts against Maxeon's patents.

The successful conclusion of this patent licensing agreement demonstrates both parties' respect for the value of intellectual property, strengthening intellectual property protection, and promoting technological advancement in the solar industry.