News Article
Soltecture Open Insolvency Proceedings
The executive management of Soltecture GmbH have applied to open insolvency proceedings. The responsible insolvency court in Berlin Charlottenburg has appointed Hartwig Albers from the law firm Brinkmann & Partner as the preliminary insolvency administrator.
Having extensively explored new financing options, the executive management saw no other viable option for averting the company's impending insolvency at the present time.
Over the last two years, Soltecture has made extremely rapid progress in increasing the efficiency of its thin-film solar modules, securing a leading position in the area of CIGSe technology. At the same time, the company positioned itself as a provider of architectonically attractive solutions for solar construction and was always successful in placing its products on the market. However, the high surplus capacity on the market has led to a dramatic drop in solar module prices, which "“ despite the company's greatest efforts to further reduce costs "“ could not be compensated.
Due to the outstanding technology produced by Soltecture and the already advanced stage of discussions with prospective partners, Soltecture is confident that operations can be continued at its headquarters in Adlershof with an industrial investor. Dr. Nikolaus Meyer (CEO Soltecture): "This is a tough day for our company. However, the discussions over the last month make me extremely confident that with our technology we will be able to secure a new, strong partner as a shareholder. We will be working together closely with our insolvency administrator, Mr Hartwig Albers, to successfully negotiate an agreement with an industrial investor as quickly as possible".
Once he has gained an overview of the company's current situation, the preliminary insolvency administrator, Hartwig Albers, will then prepare the next steps in the preliminary insolvency proceedings.
