The latest bankruptcy court filings from Solyndra highlight the scaling-up efforts to find a potential buyer of its operations. Investment bank Imperial Capital is in the throes of contacting over 100 companies that could be interested in acquiring its CIGS thin film-based manufacturing facilities.
The documents show that Solyndra could hold an auction for the outright sale of its assets near the end of October (October 28) if more than one potential buyer showed enough interest. The documents did not reveal potential bidders or those companies being contacted in the hope that bidders could be found.
Due to the unique ‘cylindrical’ assembly of its panels and the large amount of customized and proprietary manufacturing equipment used by Solyndra, the greatest value in its assets is said to be based on restarting production. Selling equipment and facilities piecemeal is said to potentially result in a ‘fire sale’ with little return for stakeholders, including the US DOE, which contributed loans of over US$500 million.
On entering banktrupcy, Solyndra claimed assets valued at US$859 million on debts of US$783 million.