OREM, Utah, Oct. 08, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. ("SunPower," or Nasdaq: "SPWR") a solar technology, services, and installation company, today announced a new Monolith platform product, the Monolith II next-generation premium high-wattage panel, designed as part of its Joint Development Agreement (JDA) with REC and exclusive to SunPower. Monolith II set the latest SunPower panel power record since its 333-watt record in 2009. Monolith II maximizes total kilowatt hours (KWh) per year, literally the actual "payback" of solar systems.

SunPower successfully commercialized Monolith, a 470-watt panel developed by the SunPower-REC JDA. The Monolith panel uses REC’s advanced N-Type Heterojunction (HJT) cell technology, which provides superior power output and annual energy production, exceptional aesthetics and a solid 25-year warrantee. Monolith II panels produce 522 watts from the first Monolith footprint and weight by encapsulating REC’s N-Type HJT wafer technology in a "bifacial" panel with glass on both the front and back sides to illuminate the cells from both sides.

Starbucks Bifacial Panels

Starbucks: SunPower used commercial size bifacial panels on 67 Starbuck’s stores to maximize the annual energy (kWh) and economic output from a given store footprint. The panels receive full sunlight on the top and reflected sunlight on the bottom

Monolith II Bifacial Panel_front & back

T.J. Rodgers, SunPower CEO, said, "Our partners at REC have done it again, enabling us to offer our new customers the market’s most powerful residential panel, as well as offering our 415,000 legacy customers an attractive system upgrade. Monolith II weighs less than 50 pounds, as mandated by OSHA for single-worker installation, yet produces 522 watts. To illustrate customer value, my backyard vineyard has three rows replaced with 56 SunPower 360-watt panels that produce 20,160 watts. With Monolith II, the system will produce 29,323 watts, or 46 kWh of extra energy per day, worth $3,345 per year in California."

Brian Ghiglia, REC Americas VP of Sales, said, "We are excited to continue our R&D collaboration with SunPower which provides us with early engineering data so we can rapidly improve our solar technology."

Surinder S. Bedi, SunPower’s Executive Vice President of Quality, Engineering and Customer Success, concluded, "With five years of personal experience building bifacial commercial systems, I cannot wait to get our first Monolith II installation done this month on the roof of a Cobalt Silicon Valley customer who will allow us to compare Monolith vs Monolith II side by side."

About SunPower

SunPower (NASDAQ:SPWR) is a solar technology, services, and installation company focused on delivering reliable and affordable energy solutions. Through its national operating platform and specialized subsidiaries, SunPower serves residential, commercial, new-home, and multifamily customers across the United States. For more information visit www.sunpower.com.

About REC Solar:

Founded in 1996, REC Group is an international pioneering solar energy company dedicated to empowering consumers with clean, affordable solar power. As Solar’s Most Trusted, REC is committed to high quality, innovation, and a low carbon footprint in the solar materials and solar panels it manufactures. Headquartered in Norway with operational headquarters in Singapore, REC also has regional hubs in North America, Europe, and Asia-Pacific. For more information visit www.recgroup.com.

Forward Looking Statements

This press release contains forward-looking statements, including statements concerning the equity for interest exchange and related impacts of the transactions. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "seek," "plan," "project," "target," "looking ahead," "look to," "move into," and similar expressions are intended to identify forward-looking statements. Forward-looking statements represent SunPower’s current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing SunPower’s estimates as of any subsequent date. Forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to market risks, trends and conditions. These risks are not exhaustive. For additional information on these risks and uncertainties and other potential factors that could cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of our annual report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on April 14, 2026, our quarterly reports on Form 10-Q filed with the SEC, and other documents that we have filed with, or will file with, the SEC. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SunPower assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:

Sioban Hickie

VP Investor Relations

IR@sunpower.com

(801) 515-8727

Source: SunPower Inc.

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/7a1d04fa-4b91-4e2b-8ed3-a5f66b8f03a1

https://www.globenewswire.com/NewsRoom/AttachmentNg/2a90f2a1-a8f7-499f-9b81-69b2f0ad0cb0