Having received an unspecified capital injection, CIGS thin-film start-up Solarion has successfully exited insolvency proceedings.
The company said it had also received creditor approvals as part of its restructuring plan. The company started bankruptcy proceedings in February, 2013.
“Solarion AG can now continue its business on a stable basis,” said Dr. Karsten Otte, CEO of Solarion. "With the positive decision and trust of the creditors, the course for a successful restructuring of the company was made. We will now apply all of our efforts to successfully launching our unique and innovative products.
Solarion has a 20MW roll-to-roll flexible Copper-Indium-Gallium-di-Selenide (CIGS) thin-film production line.