Flexible CIGS module manufacturer Global Solar Energy has initiated the steps to attract new investment, enlisting the services of FTI Capital Advisors to investigate new investor participation that could see the partial or complete takeover of the company, depending on the level of investment raised in this funding round.
The company’s CEO Dr. Jeffrey Britt claims that the company is “differentiated from the broader solar industry as its products are specially designed to target high growth, niche markets”. The company has 75MWp of installed thin-film production capacity in the USA and the EU and claims to have been the first CIGS company to have reached commercial-scale production.
Dr. Britt continued, “Global Solar’s owners have accomplished their plan of developing leading CIGS thin-film technology and being the first company to reach commercial-scale production. The time has come to consider financial alternatives that will help enable the company to reach its strategic objectives.”
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Several thin-film companies have found themselves struggling in the face of stiff competition in the PV industry including Flexcell, Inventux, Konarka and Odersun.