GUELPH, Ontario, April 14, 2020 /PRNewswire/ -- Canadian Solar Inc. (NASDAQ: CSIQ), today issued the following comment:
Canadian Solar is aware that Oakland-based Solaria Corporation ("Solaria") recently filed a complaint against Canadian Solar Inc. and Canadian Solar (USA) Inc. (collectively, "Canadian Solar" or the "Company") for patent infringement in the Northern District of California, citing a portion of the process for making Canadian Solar's shingled-cell solar modules (HiDM High Density Mono Perc Modules). Canadian Solar's many other products are not cited in the complaint. Canadian Solar believes that the claims in Solaria's complaint are meritless and unfounded. Canadian Solar is working closely with its legal counsel and will vigorously defend against the claims made by Solaria.
As one of the world's largest solar power companies, Canadian Solar respects and takes very seriously intellectual property rights. Canadian Solar Inc. was founded in 2001 and has continually invested in R&D to build its innovation leadership and provide customers with the highest yield and lowest LCOE systems. The Company has received 95 patents in various countries for its shingled-cell designs and inventions, with an additional 75 patent applications pending review. The Company has received an additional 1,519 patents for its other innovations in the area of solar power generation and storage.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 40 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 25, 2019. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
SOURCE Canadian Solar Inc.