Global Solar Energy Considering Sales Process
The flexible CIGS manufacturer has initiated an investor process which could lead to partial or total change in ownership and control of the company
Global Solar Energy, Inc. has engaged investment banking firm FTI Capital Advisors, LLC (FTICA), to pursue new investor participation.
The company is considering opportunities for the USA and EU operations.
Global Solar Energy currently has 75 MWp of installed thin-film photovoltaic production capacity in the USA and EU.
The firm sells its products into special applications such as weight-restricted roofs, integrated building products, military markets and various emerging applications. The company currently supplies interconnected solar cells for the DOW POWERHOUSE Solar Shingle roofing product line.
Commenting on the decision to pursue new investors, CEO, Jeffrey Britt states, “Global Solar’s owners have accomplished their plan of developing leading CIGS thin-film technology and being the first company to reach commercial-scale production. The time has come to consider financial alternatives that will help enable the company to reach its strategic objectives."
“The process offers new investors an opportunity to participate in the fastest-growing segment of the solar industry, flexible thin-film. Global Solar is differentiated from the broader solar industry as its products are specially designed to target high growth, niche markets that require flexible, lightweight solar solutions," continues Britt.
The company does not anticipate any disruption in production or service to its customers during this process.