OREM, Utah, Oct. 27, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. (“SunPower,” or the “Company”)(Nasdaq SPWR), a solar technology, services, and installation company, today announced an expansion in Texas through the acquisition of prime project assets from Houston installer Greenlight Solar, as well as a second strategic partnership with Fort Worth financier SOLRITE Energy to expand its residential solar and storage offerings and accelerate its Virtual Power Plant (VPP) business in which residential and commercial batteries can sell power.
The expansion adds experienced local talent and operating capabilities to support growth in Texas, a top-3 U.S. solar market. SunPower will bring its sales, installation and lifetime warranty support to join with SOLRITE’s VPP solution and solar financing capabilities to serve more customers with a broader platform connected to distributed energy markets.
T. J. Rodgers, SunPower CEO said, “Texas is currently one of the most compelling solar growth opportunities in the U.S. Greenlight provides us not only an immediate high-quality installation team in Texas, but also CEO James Garrett himself, who now leads our U.S. installation group. SOLRITE not only sources projects to us but also provides project funding for innovative systems with large batteries connected to a VPP, enabling power sales into the open market. That VPP capability provides an extra source of income that SOLRITE shares with homeowners and EPCs, making SOLRITE an attractive partner.”
Kapil Rai, EVP of Direct at SunPower, said, “Building our VPP business is a key part of SunPower’s growth strategy going forward. Our partnership with SOLRITE gives us a path to bring together customer acquisition, solar, storage deployment, and financing to develop this business in Texas and beyond.”
About SunPower
SunPower Inc. (Nasdaq: SPWR) is a leading residential solar services provider in North America. The Company’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.sunpower.com.
Forward Looking Statements
This press release contains forward-looking statements, including statements concerning the equity for interest exchange and related impacts of the transactions. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “seek,” “plan,” “project,” “target,” “looking ahead,” “look to,” “move into,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements represent SunPower’s current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing SunPower’s estimates as of any subsequent date. Forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to market risks, trends and conditions. These risks are not exhaustive. For additional information on these risks and uncertainties and other potential factors that could cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on April 14, 2026, our quarterly reports on Form 10-Q filed with the SEC, and other documents that we have filed with, or will file with, the SEC. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SunPower assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Contact:
Sioban Hickie
VP Investor Relations
[email protected]
(801) 515-8727
Source: SunPower Inc.