News Article
Flexcell parent company in bankruptcy
The District Court of Northern Broye and Vaud in Switzerland has declared VHT Technologies bankrupt. The company is better known by the branding on their flexible solar panels, Flexcell. The decision has been confirmed by company executives. They have been unable to secure a buyer and become another company that has been impacted by an oversupplied industry rectifying itself.
The company faced further difficulties as it is focused on an emerging technology that is yet to reach production maturity and the company had needed a buyer to raise around 8 million Francs capital to invest in the next stage of development. All assets will now be sold to meet creditor debts of around 24 million Francs.