SoloPower, a manufacturer of thin-film PV modules, has announced a restructuring plan the company says is designed to position itself for long-term growth consistent with the commencement of its first commercial shipments.
The restructuring includes a workforce reduction as the company transitions from a research and development focus to commercial manufacturing and sales.
SoloPower's new Portland, Ore., factory will begin commercial shipments of its flexible PV modules this month.
The company's woes, however, may run deeper than it acknowledged in its press release announcing the job cuts.
According to The Oregonian, several top executives have exited the company, and it is looking to sell millions of dollars of manufacturing equipment at its San Jose, Calif., headquarters. SoloPower has also struggled to reach several manufacturing milestones, requiring re-negotiation of its loan guarantee from the U.S. Department of Energy.
