Making a bold decision to focus on one product group, Entech Solar has announced that it is shutting down manufacturing operations for its current generation of concentrating solar systems. The company will now focus its efforts on the rapid development and commercialization of its next generation products, along with implementing aggressive cost cuts such as headcount reduction.
“The implementation of this change in strategic direction is already underway at Entech, and we have moved aggressively to reduce headcount and costs related to our current manufacturing operations,” said Frank Smith, Entech Solar’s CEO. “The Board made this strategic decision based on the promise of our next generation solar products, which will offer a significantly higher value proposition to customers and address a larger market, including rooftop applications, versus our current systems. The Company is restructuring itself around this new strategy and is dedicating all resources to ensuring its success.”