SoloPower announces that an agreement in principle has been reached with its major secured creditors on a comprehensive restructuring plan as it continues to seek new strategic financing for future expansion.
SoloPower CEO, Rob Campbell, stated that “this agreement will enable SoloPower to seek new strategic partners to enable continued production at the Portland, Oregon facility and advance our innovative light weight PV technology. We are confident that we are on the right path and appreciate the support of our secured creditors.”
SoloPower also confirms reports that it is planning to move its head office location to Portland, Oregon, in order to further optimize operations.
The company’s proprietary lightweight, flexible solar modules serve a unique and underserved market—commercial and industrial rooftops on which traditional solar panels cannot be installed due to their weight and rigidity.