Maxeon Solar Grants IP License to Zhonghuan Hong Kong for $8M

Maxeon Solar Pte. Ltd., currently under interim judicial management, has entered into a non-exclusive IP License Agreement with Zhonghuan Hong Kong Holding Limited. This agreement grants Zhonghuan Hong Kong the rights to manufacture, use, sell, and transfer Licensed Products globally under Maxeon's intellectual property. Maxeon received an $8 million license fee, and the agreement has an initial term of six years with provisions for automatic renewals. The terms ensure the continuation of licenses even if Maxeon faces a change of control or insolvency event, and include rights of first refusal and last look for Zhonghuan Hong Kong on future IP sales.