Is Maxeon Solar Technologies a Foreign Entity of Concern (FEOC)?
Solar Panels · Singapore
Company record last verified · federal list index as of
FEOC answer
Uncertain
Uncertain. Maxeon Solar Technologies is not named on any of the 3 federal restricted-party lists screened for this record (DOD Section 1260H, BIS Entity List, OFAC SDN List), but its FEOC status is unresolved and depends on ownership or component-level analysis.
- Singapore-headquartered but largest shareholder is TCL Zhonghuan, a Chinese company. Requires component-level FEOC analysis due to potential Chinese influence through significant minority stake.
- Not screened in this record: UFLPA Entity List. No conclusion either way is drawn from that list.
Track Maxeon Solar Technologies
Federal list designations change without notice. Get an email when Maxeon Solar Technologies is added to, or removed from, any screened list.
Federal list screening for Maxeon Solar Technologies
Maxeon Solar Technologies carries a result for 3 of the 4federal restricted-party lists below. "No screening record" means neither source covers that list; it is not a finding that the company is absent from it, and no claim on this page counts it as a clean result.
Results come from two places: the curated company record, and the live federal list index re-ingested from the agencies. Where they disagree the index wins and the row says so. The index can only add a designation, never clear one -- no confident match in the index is not evidence that a company is absent from a list.
| Federal list | Result | Checked | Source |
|---|---|---|---|
DOD Section 1260H U.S. Department of Defense | Not listed | 2026 | Official list |
BIS Entity List U.S. Department of Commerce, Bureau of Industry and Security | Not listed | 2026 | Official list |
OFAC SDN List U.S. Department of the Treasury, Office of Foreign Assets Control | Not listed | 2026 | Official list |
UFLPA Entity List U.S. Department of Homeland Security (FLETF) | No screening record Not screened in this record | - | Official list |
Ownership and country of organization
- Country
- Singapore
- Headquarters
- Singapore
- Ultimate owner
- Public company. TCL Zhonghuan (Chinese) is largest shareholder (~20%). SunPower sold its stake.
- Ownership type
- Public (NASDAQ: MAXN)
- Covered nation
- No
- U.S. manufacturing
- Manufacturing in Malaysia and Mexico. No US cell/module facility.
- Products
- IBC solar cells (Maxeon series), Shingled solar modules (Performance series)
Summary
Singapore-headquartered but largest shareholder is TCL Zhonghuan, a Chinese company. Requires component-level FEOC analysis due to potential Chinese influence through significant minority stake.
Complex ownership structure. TCL Zhonghuan (Chinese) has significant stake, creating FEOC ambiguity. Filed for restructuring in late 2024.
A clean list screen does not by itself establish that a company is outside the FEOC rules. Under OBBBA (P.L. 119-21), enacted July 4, 2025, and under IRS Notice 2026-15 (Feb 12, 2026), an entity is also prohibited if a specified foreign entity owns 25 percent or more of it, if such entities together own 40 percent or more, if they hold 15 percent or more of its debt, or if one can appoint a board member or senior officer. Those tests require the cap table and debt structure, which this page does not cover.
How this answer is determined
The prohibited-foreign-entity restrictions on the 45Y, 48E and 45X clean energy credits were added by OBBBA (P.L. 119-21), enacted July 4, 2025 and are administered under IRS Notice 2026-15 (Feb 12, 2026). A company answers "yes" on this page when it is named on a federal restricted-party list, or when it is organized in a covered nation (China, Russia, Iran or North Korea). Where ownership or component sourcing leaves the question genuinely open, the answer is "uncertain" rather than a clean result -- and that holds even for a company organized in a covered nation, because a record flagged for component-level analysis is answering a narrower question than the entity-level test.
A separate ownership and control test can make a company prohibited even with a clean list screen: a specified foreign entity can appoint a covered officer (board member, president, CEO or CFO); a single specified foreign entity owns 25 percent or more; specified foreign entities together own 40 percent or more; specified foreign entities together hold 15 percent or more of the entity's debt. Those tests need the cap table and debt structure and are not evaluated here.
Sources for this record
- SEC EDGAR - MAXN 20-F
- Company annual reports
Where Maxeon Solar Technologies sources its components
A supplier can be named on no federal list and still sit on top of a supply chain that is. The map traces this product to the mines and refiners behind each input.
Maxeon Solar Technologies supply chain mapSuppliers in Solar Panels with no federal designation
This page is informational and is not legal or tax advice. Federal list data is drawn from publicly available government sources and may lag the agencies' own updates; verify any determination against the official list linked above and with qualified counsel before relying on it.