MiaSolé announced today it will reorganize manufacturing and operations.
This course of action will allow the company to continue strategic discussions with potential partners ensuring long-term success. In a move designed to reduce costs and focus the company on critical functions, MiaSolé will reorganize its workforce to retain employees in the technology, commercial and flexible product areas and make reductions in manufacturing and operations. This restructuring will ensure continued CIGS technology development, execution on our sales pipeline and ongoing development of our flexible product, which NREL recently verified at 15.5% efficiency, setting a world record.
"MiaSolé has advanced solar technology by developing the highest efficiency, lowest-cost CIGS modules and executing globally," said John Carrington, CEO of MiaSolé. "However, in the near term we need to conserve costs to enable a strategic partnership. The company is looking forward to aligning with a partner and collectively executing on our technology roadmap, flexible product launch and additional capacity to fulfill our 1GW+ commercial pipeline. I am confident based on current discussions we will finalize a partnership within the next 60-90 days."