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.
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“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.