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http://www.ipohome.com/common/ipoprofile.asp?ticker=SPWRSunPower Corp. (SPWR)
IPO
File Date 8/25/05
http://www.miami.com/mld/miamiherald/busin...al/12485614.htmThe Sunnyvale maker of solar power products said there is also an option granted to the underwriters to purchase up to an additional $15 million to cover over-allotments.
http://sanjose.bizjournals.com/sanjose/sto...22/daily53.htmlSunPower was founded in 1985, but has been wholly-owned by San Jose-based Cypress Semiconductor Corp. (NYSE:CY)
The shares will be offered by an underwriting group managed by Credit Suisse First Boston LLC, Lehman Brothers Inc. SG Cowen & Co. and First Albany Capital Inc.
SunPower of Sunnyvale files IPO for $115 million in common stock
Posted on Fri, Aug. 26, 2005
Associated Press
WASHINGTON - Solar-power company SunPower Corp. filed an initial public offering to sell up to $115 million in Class A common stock.
Details about the number of shares to be offered or an estimated price range for the IPO weren't disclosed in the Thursday filing with the Securities and Exchange Commission.
The Sunnyvale, Calif.-based company makes solar electric power products, including solar cells, solar panels and inverters that convert sunlight to electricity compatible with utility networks. SunPower said it intends to use the net proceeds from the IPO for the expansion of its manufacturing and for general corporate purposes.
The company plans to list its Class A common stock on the Nasdaq National Market under the symbol SPWR. For the six months ended June 30, SunPower lost $13.57 million. In the previous year, it lost $11.13 million. The $115 million valuation for the IPO was estimated solely for calculating the registration fee, the filing said. Often, the eventual price terms of an IPO offer differ substantially from the valuation in the first registration.
http://www.solarbuzz.com/News/NewsNAPR513.htmJune 15, 2005
Sunnyvale, CA, USA: New Los Altos Hills Town Hall Powered by SunPower Solar System
SunPower Corporation has announced that its solar electric panels are being used to generate electricity for the new Town Hall in Los Altos Hills, California. This is the first North American commercial-scale installation of SunPower's industry-leading solar panels.
The new $4.5 million City of Los Altos Hills' Town Hall is now open for business and the city will host a dedication ceremony on Thursday, June 16, 2005. The building has been recognized for its innovative design features, including its SunPower solar system and use of energy-saving design and technologies.
The 37,000-watt Town Hall solar system uses 176 SunPower solar panels, with a Xantrex PV series inverter and was installed by EcoEnergies, Inc. of Sunnyvale, Calif. SunPower's ultra-high efficiency solar panels generate up to 50 percent more power per square foot than conventional solar technologies, reducing system costs. SunPower's panels are offered with a unique all-black appearance that is particularly attractive to homeowners and architects.
"With our limited unshaded roof area, we wanted to use solar panels that would maximize energy production per square foot," said Breene Kerr, mayor of Los Altos Hills, Calif. "Solar energy provides a sustainable solution to the Town Hall's energy needs while blending into the design. We are offering the public an example that we hope they will follow." Tom Werner, SunPower's CEO said, "We are delighted that the town of Los Altos Hills has selected SunPower's ultra-high efficiency solar panels for its Town Hall, a distinguished, environmentally sensitive building. Projects like these demonstrate the excellent progress being made toward California's 'million solar roofs' goal."
SunPower's solar panels have no moving parts and create pollution-free, no-cost electricity with virtually no maintenance. Due to SunPower's patented all-back contact cell design, its high-tech, high-performance solar panels perform better than comparable systems in both cloudy and hot weather.
http://www.solarbuzz.com/News/NewsNATE32.htmAugust 23, 2005
Sunnyvale, CA, USA: SunPower Applies for Solar Cell ''Surface Polarization'' Patent
http://www.siliconbeat.com/entries/2004/12...tting_edge.htmlSunPower keeps Silicon Valley on cutting edge
We recently visited Sunnyvale's SunPower <http://www.sunpowercorp.com>, a producer of some cutting-edge photovoltaic system, having heard about their new highly-efficient photovoltaic system. If it works, it'll be a great example of how Silicon Valley expertise can solve new problems. Here's a company that is using the silicon manufacturing capabilities of its parent company, Cypress Semiconductor, to apparently construct a better module up front. SunPower is maximizing the active front surface available to absorb and convert sunlight, which means more efficiency.
The cells are designed with all the electrical contacts on the back surface where they don't block the sun. So its cells are producing 90 watts, while the industry norm is 75 watts, and its panels are smaller and better-looking. "We're trying to be the Audi, or BMW of solar,'' said Peter Aschenbrenner, SunPower's vice president of sales & marketing.
When SunPower launched in the U.S. market in October (it first launched in the German market in June) at a conference in San Francisco, we asked Barry Cinnamon of Akeena <http://www.akeena.net/>, one the nation's largest installers of solar panels, what he thought. Cinnamon was skeptical at the time, simply buying up Sharp's standard product for the time being and waiting to get more info.
We went back to him today, and here's what he said.
They have an excellent product that is very well positioned in the marketplace with regards to very high efficiency -- that is the trend that the industry will follow. Moreover, the aesthetics are good: black frames, black cells, etc. We are one of their initial distributors and are installing three of the very first shipment on the roofs of their top execs.
http://www.sunpowercorp.com/html/Company/About/aboutus.htmlSunPower and Cypress
Cypress Semiconductor Corporation purchased a majority interest in SunPower in 2002, and subsequently supported the development and mass production manufacturing of SunPower's high-efficiency all back contact A-300 solar cell. Before moving production to the Philippines, SunPower operated a pilot line located within Cypress's Round Rock, Texas manufacturing plant
http://www.reed-electronics.com/electronic...e/CA526841.html4/21/2005
[San Jose, Calif.-based Cypress Semiconductor Corp] "It was a decision we made in our board meeting …...," Rodgers said. "We've decided we're going to begin investigate doing an initial public offering for SunPower." Cypress has the cash to fund the division's planned manufacturing expansion, but the board decided taking the company public may be a more efficient means of raising the capital involved, he said.
Cypress' silicon solar cell subsidiary, SunPower Corp., exceeded its revenue target slightly, posting sales of $11 million in Q1.That was up 142 percent from Q4 2004 and comprised 6 percent of Cypress' Q1 revenue, as SunPower continued to ramp its initial 25 megawtt manufacturing line in the Philippines. Cypress expects continued growth for SunPower in Q2, based on sustained demand for its products and continued progress in the Philippines. The SunPower plan is to break even in Q3.
In fact, Rodgers said that the company was already planning its second 25 megawatt solar cell production line, which is what is prompting the IPO consideration. The first manufacturing line is debugged, and is seeing consistent yields around 85 percent, he said.
The second 25 megawatt solar cell manufacturing facility will cost approximately $100 million, Rodgers said. An IPO might not only help fund that, it could prove to make sense from an operations standpoint; SunPower operates as an individual entity within Cypress, with much of its own marketing and sales, Rodgers said.