The flexible thin-film firm is based in Cardiff, Wales and employs 40 people. Administrators are hoping to save the business as a going concern, though did not say whether this would be achievable or whether a buyer would be sought.
There have been numerous corporate failures within the PV thin-film sector and especially within the flexible thin-film category in 2012. The most recent victim has been Global Solar, although Konarka, VHF-Technologies/Flexcell and largest firm, Energy Conversion Devices all succumbed to bankruptcy in 2012.
A relative latecomer to the market, G24 Innovations attempted to position the company in providing bespoke products for niche markets, primarily in the indoor/outdoor consumer sector as well as low-level charging and lighting markets for off-grid applications for the poor or low-income markets in developing countries.