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OptiSolar unable to find buyer – halts manufacturing

Optisolar Inc has stopped manufacturing operations and may lay off most of its staff as the solar company has been unable to find a buyer.

Less than 100 employees will remain at OptiSolar after 142 at the Hayward headquarters and 58 employers at a second facility outside Sacramento are laid off, according to the San Francisco Chronicle.

If a buyer is found, however, the solar company may resume production of its thin-film solar panels.

Alan Bernheimer, OptiSolar's Vice President of Communications, was quoted as saying: “If we can find a buyer, it's certainly ready to start. But it's going to take a buyer with resources, cash flow, the ability to invest in research and development.”

Earlier this year, First Solar acquired OptiSolar’s solar project pipeline in a deal worth around UD$400 million. This appears, however, not to be enough to keep OptiSolar going.

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Photovoltaics (PV)