An announcement filed with the U.S. Securities and Exchange Commission stated that Convalt purchased SunPower manufacturing assets in 2021 and relocated automated assembly lines from Hillsboro, Oregon, to Watertown, New York.
A foundation for domestic production
The companies described plans for a new factory with capacity of up to 900 MW of solar panels. They also outlined Convalt’s activities in power generation, engineering, construction and solar recycling.
A proposed business combination
The announcement concerned a non-binding term sheet between Convalt and GigInternational1, intended to lead to a business combination. A definitive agreement and completed transaction were still prospective.
Plans at the time
Factory opening dates, production capacity and employment figures in the announcement were expectations stated in August 2022. The record documents the equipment relocation while presenting subsequent expansion as planned.