Markets & Policy

SolarMax confirms buyer

The insolvent inverter supplier has announced that an investor has purchased the company and that it will begin trading in June, complete with new service and product offerings.
By
pv magazine

Swiss inverter and monitoring system provider SolarMax – a subsidiary of Sputnik Engineering – this afternoon (Friday) confirmed an investor has purchased the company and will bring to an end insolvency proceedings started in December.
A brief press statement said the new SolarMax 2.0 would begin trading next month and would include a service hotline and repair service, adding a new SolarMax product or solution would be unveiled at the InterSolar 2015 exhibition to be held in Munich from June 10-12.
The statement did not name the white knight investor although pv magazine reported in March that the company had lined up a savior from a ‘German-speaking country’ and, with the deal then reported to include a new repair service centre in Germany, it seems likely the new owner is German.
No details were revealed about whether the agreement included acquisition of SolarMax’s property holdings, a sticking point in March that insolvency practitioners in the Swiss city of Biel said would require a separate investor.

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