We finished the year with a better than expected fourth quarter, as demand for SunPower’s differentiated technology sold through our diversified downstream channels enabled us to reach annual records in both revenue and shipments,” said Tom Werner, SunPower president and CEO. “Operationally, we achieved both our panel production cost target and accelerated manufacturing step reduction program milestones. Research and development investment results included initial volume production of our Maxeon Gen 3 next generation cell technology with a maximum cell efficiency of 24 percent. As the market transitions, the companies with the strongest balance sheets will gain share. Our strategic partnership with Total SA solidifies SunPower as one of the leading companies in the industry today.”