GreenVolts Closes Its Doors Following ‘Sudden And Unexpected Change’ From Investor

Posted by SI Staff on September 13, 2012 No Comments
Categories : New & Noteworthy

Concentrating photovoltaic solar systems provider GreenVolts has announced that it will suspend all of its marketing, sales and manufacturing operations, effective immediately.

‘A sudden and unexpected change in direction from a major strategic investor has affected GreenVolts's access to funding,’ the company said in a statement. ‘This turn of events is especially surprising, given the recent positive announcements and support from the customers and partners of GreenVolts.’

The company says that because the impact was so last-minute and so severe, it cannot continue normal operation and has reduced its workforce to a small team to provide customer support and engage other options, including working with potential buyers of the system, technology and intellectual property.

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