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Valoe

Finnish solar manufacturer finally starts production in Vilnius

Valoe completed the 15-month purchase process of a 60 MW cell production line from Solitek in the spring and installed interdigitated back-contact production equipment. It hopes to begin deliveries in the next quarter.

Finnish solar manufacturer gets Lithuanian factory purchase over the line

Appetite may have been lacking among private investors – at a time when global stocks are tanking amid Covid-19 and global recession fears – but the eco-friendly new Finnish government, and neighboring administrations, have stepped in to fill the breach.

Finnish solar manufacturer extends vital fundraising exercise again

Valoe Corporation has extended its €3.5m convertible bonds issuance but with investors fleeing to safe havens and Lithuania yesterday announcing COVID-19 quarantine measures, hopes of getting cell manufacturing off the ground in Vilnius this month appear unrealistic.

Valoe chief insists €3.5m fundraising is just one of finance options

The chief executive of the Finnish manufacturer – which this month missed another deadline to complete payment for the Lithuanian cell factory it acquired from Solitek – has insisted the €3.5 million convertible bond issue which was today extended by three months will not determine the fate of his company.

Valoe’s Lithuanian gamble rides on latest fundraising attempt

The Finnish solar manufacturer must raise €3.5 million from a convertible bond issued on Monday and which closes on December 18. Generate the cash and production is expected to start at the Solitek facility in Vilnius early next year. Fail, and (almost) all bets are off.

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