Leading Manufacturer of Copper Indium Gallium Selenide (CIGS) Thin-film Photovoltaic Solar Panels Reorganizes

August 7th, 2012, Santa Clara, Calif. – MiaSolé, the leading manufacturer of copper indium gallium selenide (CIGS) thin-film photovoltaic solar panels, announced today it will reorganize manufacturing and operations.

This course of action will allow the company to continue strategic discussions with potential partners ensuring long-term success. 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 make reductions in manufacturing and operations. This restructuring will ensure continued CIGS technology development, execution on our sales pipeline and ongoing development of our flexible product, which NREL recently verified at 15.5% efficiency, setting a world record.

“MiaSolé has advanced solar technology by developing the highest efficiency, lowest-cost CIGS modules and executing globally,” said John Carrington, CEO of MiaSolé.

However, in the near term we need to conserve costs to enable a strategic partnership. 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. I am confident based on current discussions we will finalize a partnership within the next 60-90 days.

Note to media: MiaSolé received no government funding. The company had access to tax credits but never used them.

About MiaSolé

MiaSolé designs and manufactures solar photovoltaic (PV) cells and modules based on an innovative thin-film sputtering manufacturing process technology using copper indium gallium selenide(CIGS.) The company has achieved the highest levels of efficiency in the industry. It is currently shipping 14.0% efficient solar modules to customers globally and has achieved a UL certified module efficiency of 14.5%. MiaSolé has also demonstrated the lowest capex per watt for its technology of approximately $.50 watt. Since October 2009 when the company began shipments, it has shipped product to more than 30 customers in 7 countries around the world. MiaSolé’s management team is comprised of technology industry veterans who bring a combination of experience in alternative energy, manufacturing, sales and marketing, and new product and process development.

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Posted by Gordon Smith on Aug 8 2012. Filed under Finance/Investing, Management changes, Press Releases, Solar PV, Solar PV Thinfilm. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry