From pv magazine France
CréaWatt, a French company that manufactures flexible solar panels, was placed in receivership by the Orléans Commercial Court on July 16. A new hearing is scheduled for Sept. 3 to assess the situation and potentially decide on a continuation or recovery plan.
The company’s financial difficulties worsened in early 2025, a CréaWatt employee told pv magazine France on condition of anonymity. In 2023, the company had announced industrial ambitions, including plans to relocate a production line to its Amilly plant in the Loiret department. It also increased its capital from €340,000 ($399,600) to more than €5 million.
The industrial project, which included an integrated R&D component, appears to have faced technical and financial setbacks. A new production line was expected to launch in 2025 to support a production ramp-up that has not occurred. According to La République du Centre, order volumes have remained low since fall 2024, and salaries for May and June 2025 have not been paid – a situation previously reported earlier this year.
To address its financial challenges, the company may open its capital to a new shareholder, alongside founder Jean-Noël Gaine and construction group Baudin Chateauneuf, which already holds a stake. Such a move could bring in fresh funding and support a recovery plan if the court determines the company’s industrial model is viable.
CréaWatt had drawn sector interest since 2022 by pursuing a domestic solar panel production project. The company partnered with Chinese manufacturer Sunman to develop an ultra-lightweight 3.2 kg/m² panel that can be installed on a wide range of roofs without structural reinforcement. The panel, part of the Luxsiol range, won the silver medal at the Batimat 2024 Innovation Awards and was specifically designed for zinc roofs. It was already being assembled at the Amilly plant.
The company did not respond to a request for comment from pv magazine France at the time of writing.
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