Thin-film manufacturer Solopower has announced that it is close to reopening its factory in Portland, Oregon.
The firm claims to be finalising an agreement with new investors that will allow it to re-staff the facility that has remained largely idle since last year. It has arranged a round of interim financing as the first stage of that process.
“This bridge financing provides us with the runway to finalise our longer-term financing plans,” said Rob Campbell, president, Solopower Systems in an official statement. “Our proprietary Solopower technology and lightweight flexible PV CIGS products serve many new and underserved markets, from which we continue to receive very strong interest.”
“We’re excited that this latest show of commitment from our investors will enable the large volume production needed to satisfy pending orders from Europe, MENA, the Americas and Australasia,” he added.
Earlier this week a deadline passed on a debt owed to Oregon’s department of energy. It was unclear whether the remaining sum, in excess of US$100,000, had been paid within the five day grace period that followed the 1 February deadline.
Campbell told the Oregonian newspaper that the US$10 million loan from the department of energy would be settled “within a matter of months”.
The department could not be reached for comment at the time of publishing.
Solopower now trades as Solopower Systems Inc after acquiring the patents from the original Solopower Inc business.