Thin-film manufacturer SoloPower has announced it is looking for new investors as its restructuring process continues.
CEO Rob Campbell also confirmed reports that the company’s head offices would relocate from San Jose, California, to Portland, Oregon, where the firm's CIGS PV module plant is based.
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A company statement said an agreement “in principle has been reached with its major secured creditors on a comprehensive restructuring plan as it continues to seek new strategic financing for future expansion”.
On Wednesday, Oregon state officials confirmed a payment of US$117,000 had been missed on a US$10 million loan.
Despite this Campbell remained bullish on the company’s prospects.
“This agreement will enable SoloPower to seek new strategic partners to enable continued production at the Portland, Oregon facility and advance our innovative light weight PV technology,” he said.
“We are confident that we are on the right path and appreciate the support of our secured creditors.”
Bloomberg reported that the company has also made further layoffs, in addition to the 29 staff cut in April, 2013.
Earlier this week SolarWorld confirmed its US operation would cut 100 jobs from its factory in Hillsboro, Oregon.
