Next2Sun seeks urgent funding to avoid insolvency

German vertical PV specialist Next2Sun has warned that it may file for insolvency if it fails to secure sufficient funding through its current share offering in the coming days.

The company, which develops vertical bifacial PV systems for agrivoltaics, solar parks and infrastructure applications, launched a capital increase on Aug. 24, seeking to raise up to €5 million ($5.7 million) to accelerate the development of its own projects and expand its business model.

Next2Sun said on Sept. 18 that the offering had raised significantly less capital than expected. It has set Sept. 25, 2026, as the deadline to secure a level of funding that it says would enable viable business operations.

In an appeal to potential investors, Next2Sun said its difficulties do not stem from a lack of customers, projects or technology, but from what it described as extreme caution among investors, banks and other financiers toward the renewable energy sector.

The company has lowered the minimum subscription amount to €600, equivalent to 50 shares at an issue price of €12 per share.

Next2Sun said it will only accept the subscribed funds if the offering raises enough capital to ensure business continuity. If it fails to reach that threshold, the capital increase will be canceled and the company will file for insolvency. It has not disclosed the minimum amount required or the value of subscriptions received to date.

The funding difficulties come despite a series of product and business developments in recent months. In June, Next2Sun unveiled Fields2Sun Max, a vertical mounting system designed for large-scale PV installations. The product extends technology that the company has been developing since 2016 for agrivoltaic and distributed-generation projects into the utility-scale segment.

In May, Next2Sun also announced a strategic partnership with Norwegian company Over Easy Solar to expand the commercialization of vertical PV solutions. The partnership combines Next2Sun’s systems for ground-mounted, agrivoltaic and infrastructure applications with Over Easy Solar’s lightweight vertical PV systems for flat and green roofs.