No Admission of Liability or Wrongdoing, Nor Payment
GUELPH, ON., June 8, 2022 /PRNewswire/ — Canadian Solar Inc. (NASDAQ: CSIQ) and Canadian Solar (USA) Inc. (jointly “Canadian Solar”) announced today that they have reached a settlement agreement with Solaria resolving their pending patent litigation, following the claim construction order by the U.S. District Court for the Northern District of California adopting the core argument advanced by Canadian Solar, as well as the decision by the U.S. International Trade Commission to grant Canadian Solar’s request to review the initial determination of its Administrative Law Judge. Pursuant to the terms of the settlement, Solaria agreed to terminate the Section 337 investigation it initiated at the U.S. International Trade Commission and to dismiss with prejudice the patent infringement claims it asserted against Canadian Solar in the Northern District of California. Canadian Solar agreed to withdraw the inter partes review it filed with the U.S. Patent and Trademark Office challenging a Solaria asserted patent. Neither party admits any liability or wrongdoing, and no payment is required under the settlement.
“We are pleased to resolve our dispute with Solaria, and to continue our focus on providing our customers with high quality solar products and exceptional service,” said Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc. No changes to Canadian Solar’s product offerings will result from the settlement – Canadian Solar had already discontinued the shingled solar module technology at issue in the litigation several months ago. “Our newest all black modules can achieve significantly higher power output and module efficiency, and this will give our customers even better performance than the previous shingled cell technology they have replaced,” said Dr. Qu. Canadian Solar is committed to continuing innovation and to providing a cost-effective source of renewable energy in all the markets it serves around the world.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 71 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected over 6.6 GWp in over 20 countries across the world. Currently, the Company has around 800 MWp of solar projects in operation, 5.3 GWp of projects under construction or in backlog (late-stage), and an additional 18.5 GWp of projects in pipeline (mid- to early- stage). Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
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