Today SoloPower announced a restructuring plan aimed at positioning the business for long-term growth consistent with commencement of its first commercial shipments. The restructuring includes a workforce reduction designed to trim costs and address market conditions as the company transitions from an R&D focus to commercial manufacturing and sales.
SoloPower’s new Portland, Oregon factory will begin commercial shipments to customers this month. The company’s proprietary lightweight, flexible solar modules serve a unique and growing market—commercial and industrial rooftops that traditional solar panels cannot serve due to their weight and rigidity.
“We are evolving the structure of the company to best suit our current ramp-up timeline and stay ahead of market conditions,” said Paolo Pietrogrande, Executive Chairman of SoloPower. “We truly appreciate the hard work and dedication of all of our employees in helping us get to where we are.”