JinkoSolar shares jumped in American trading after it fended off a patent-infringement complaint filed by Hanwha Q Cells that could have meant an import ban on its solar cells.
The Shanghai, China-based solar panel maker said U.S. International Trade Commission (ITC) issued a favorable final determination after it found that JinkoSolar’s product does not infringe on Hanwha Q CELLS’ patent.
JinkoSolar and two other sector players, namely LONGi Solar and REC Group, were accused earlier this year of infringing one of Hanwha Q Cells’ U.S patents, which led to an ITC investigation.
The Korean company claimed that JinkoSolar had unlawfully incorporated its patented passivation technology into solar cells being imported and sold in the U.S.
“From the start, we have believed that the case brought by Hanwha was legally and technically meritless and a transparent attempt to disrupt innovation and slow our momentum. The ALJ’s [administrative law judge’s] decision confirms that Hanwha should never have brought this case in the first place,” said Kangping Chen, CEO of JinkoSolar.