Tag Archives: eslr
On the heels of Suntech’s bankruptcy last month, LDK Solar Company Ltd. (Xinyu City, China) failed to make full payments of $23.8 million-worth of 4.75% convertible notes due this year. LDK was able to reach a private agreement on some cash payments and payment postponement with two other holders of $16.6M in notes. The company [...]
Suntech, on the heels of several losing quarters and a boardroom bloodbath involving the removal of its wealthy founder as chairman, is closing its 50-megawatt Goodyear, Arizona solar panel factory. This was a factory once heralded by Suntech (and its former CCO Andrew Beebe), as a sure sign that Suntech was committed to building PV [...]
Evergreen Solar Inc., which filed for bankruptcy in August, has sold off its core wafer business, including its intellectual property, for about $10.7 million, along with assumed liabilities and other costs. Hong Kong-based Max Era Properties bought the assets for $6 million in cash and 7.57 million shares of its holding company, China Private Equity Investment Holdings [...]
In the wake of Evergreen’s bankruptcy filing in August 2011, the United States Bankruptcy Court has appointed Hilco Industrial, LLC to auction off the company’s remaining assets in the U.S. It’s a relatively quick turnaround that’s spurred some outcry from investors and the U.S. Department of Energy (DOE). As widely reported, Evergreen Solar was producing [...]
Evergreen Solar (Evergreen), a Massachusetts silicon PV maker, recently announced that it filed for Chapter 11 bankruptcy and would try to sell its assets under the reorganization. According to the Greentech Media report, those assets include “the String Ribbon technology that is at the core of Evergreen’s existence.” Without String Ribbon, Michael Kanellos wrote, “Evergreen’s assets are [...]
EvergreenSolar’s balance sheet is a common concern in nearly every earningsconference call. After reviewing earnings on November 4, I concludedthat Evergreen Solar (ESLR) “remains a very speculative bet on survival.” After Monday’s announcement of a major recapitalization plan, it is clear that ESLR’s balance sheet remains in precarious shape. The recapitalization plan is complex but [...]
Evergreen Solar Inc. (NASDAQ: ESLR) yesterday announced the approval of its recapitalization plan designedto align the company’s capital structure with its current business model and to improve its position for future growth. The restructuringstrategy starts with efforts to reduce the company’s outstandingindebtedness and annual interest expense. To execute this plan,Evergreen will exchange a “substantial portion” [...]
Evergreen Solar Inc., a manufacturer of String Ribbon solar powerproducts with its proprietary, low-cost silicon wafer technology,announced that its Board of Directors has approved a comprehensiverecapitalization plan to align the company’s capital structure with itscurrent business model and to better position Evergreen Solar for future growth. The recapitalization plan, if fully executed, will:* Substantially reduce [...]
Evergreen Solar Inc., a manufacturer of String Ribbon solar panels withits proprietary silicon wafer technology, has launched the new ES-ESeries String Ribbon solar panels. These new panels feature ahigher voltage than previous models, making them compatible withmicro-inverters for residential installations, the company says. Theyare also IEC 61701 salt-mist-certified, making them suitable forinstallations in coastal regions. [...]
Evergreen Solar’s sudden resurgence in October remains a mystery to me. Nothing in the recent third quarter earningsreport explains the sudden return of enthusiasm to the stock. On theother hand, there was just enough reassurance in the report to onceagain suspend fears of the worst outcomes. ESLR remains a speculativeplay on the company’s survival through [...]
Ascent Solar Technologies Inc. (NASDAQ: ASTI) is a Littleton, Colorado-based development stage company looking tocommercialize flexible photovoltaic modules using its technology. Ascent Solar and Johns Manvilletoday reported that following an extensive internal product developmentand testing, thin-film copper indium gallium (di)selenide (CIGS)marinated modules from Ascent Solar are set for beta test deployment atthe JM Technical Center [...]
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