8 August 2012
MiaSolé reorganizes manufacturing and operations to reduce costs
MiaSolé of Santa Clara, CA, USA, which was founded in 2001 to make copper indium gallium diselenide (CIGS) thin-film photovoltaic panels, is to reorganize manufacturing and operations. The course of action will allow the firm to continue strategic discussions with potential partners.
In a move designed to reduce costs and focus the company on critical functions, MiaSolé will reorganize its workforce to retain employees in the technology, commercial and flexible product areas and to make reductions in manufacturing and operations.
The restructuring is intended to ensure continued CIGS technology development, execution on the firm’s sales pipeline, and ongoing development of its flexible product, which the US Department of Energy’s National Renewable Energy Laboratory (NREL) verified in May at a record 15.5% solar energy conversion efficiency.
“In the near term we need to conserve costs to enable a strategic partnership,” says CEO John Carrington. “The company is looking forward to aligning with a partner and collectively executing on our technology roadmap, flexible product launch and additional capacity to fulfill our 1GW+ commercial pipeline,” he adds. “I am confident, based on current discussions, we will finalize a partnership within the next 60-90 days.”