Flexible-CIGS thin-film start-up SoloPower said it would be restructuring its operations which will involve a workforce reduction as it approaches volume production at its plant in Oregon, USA.
Paolo Pietrogrande, Executive Chairman of SoloPower said in a statement: “We are evolving the structure of the company to best suit our current ramp-up timeline and stay ahead of market conditions. We truly appreciate the hard work and dedication of all of our employees in helping us get to where we are.”
The company said that the restructuring efforts would include job losses that were designed to lower operating costs and “address market conditions as the company transitions from an R&D focus to commercial manufacturing and sales.”
The PV industry has seen a large number of module manufacturing start-ups fail in recent years, hit by the realities of an overcrowded marketplace but also the challenge in taking R&D efforts through to the critical and costly volume manufacturing phase, dubbed by industry observers as the ‘Valley of Death’ for such companies.