Global Solar Energy has announced that it is to sell its portable solar business, including the Sunlinq and P3 product lines. The company assures that it does not anticipate any disruption in production or service to its portable solar business customers during the sale process. Global Solar insists the purchase will allow it to better position its focus on and grow other key business units serving the BIPV market. FTI Capital Advisors, the wholly owned investment banking subsidiary of FTI Consulting, will conduct an asset sale of its portable products business.
CEO Dr. Jeffrey Britt stated. “Additionally, the sale of the portable solar business enables Global Solar to increase focus on our core product lines, namely Copper Indium Gallium diSelenide (CIGS) solar cells for OEMs such as Dow Solar and the company’s commercial-scale flexible modules ideal for building integrated applications.
“The Portable Solar Business is positioned to recognize a fourth straight year of strong revenue and profitability. The time has come for Global Solar to realize value from the business and identify a buyer who will take the product line to the next level. Serving select markets which require lightweight power sources, these innovative solar products offer a unique opportunity to own a growing, profitable solar enterprise that generates strong, positive cash flow.”