Thin-Film Solar Panel Maker Konarka Files for Bankruptcy
Submitted on 06/04/12, 06:46 AM | Click Here for the full article: Bloomberg BusinessWeek
Konarka Technologies Inc., the thin-film solar panel manufacturer backed by Chevron Corp. (CVX) (CVX), Draper Fisher Jurvetson and New Enterprise Associates Inc., filed for bankruptcy in Massachusetts.
“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” Howard Berke, chief executive officer of the Lowell, Massachusetts-based company, said yesterday in a statement.
Konarka listed $100,000 to $500,000 in assets and $10 million to $50 million in debt in its Chapter 7 filing yesterday in U.S. Bankruptcy Court in Worcester, Massachusetts. Konarka NB Holdings LLC, in a separate filing, listed $1 million to $10 million in assets and as much as $50,000 in debt.
This story does not have any comments. Be the first to leave a comment below.
Post A Comment
You must be logged in before you can post a comment. Login now.
Featured Hot Product
Joyce/Dayton offers a complete line of solar tracking drive jacks specifically designed for heavy-duty tracking applications. These jacks position loads at speeds typical of the solar industry. They include an integrated trunnion mount for simplified mounting, cast aluminum housing for corrosion resistance, and optimized drive efficiency for reduced operating costs. Available in acme screw and ball screw models, their flexible design can be modified to your load, speed and travel distance requirements.
A full line of solar tracking drive actuators (SA) capable of moving loads up to 2000-pounds is also available. These self-locking DC powered actuators feature self-aligning clevis bearings, are lubricated for life and ideal for rugged outdoor environments. They have an IP65 rating and adjustable double clevis mounts. Available in 24 VDC and 36 VDC they have stroke lengths of 450 mm (18”), 600 mm (24”), 900 mm (36”).