Evergreen Solar's German joint venture at risk (Boston)
Evergreen Solar Inc. said its ownership stake in Sovello AG is at risk of evaporating if the company is unable to resolve its financial woes, the latest of which stems from a European commission’s decision to rescind a $16.2 million grant to the Germany-based solar startup.
Evergreen co-founded Sovello in 2005 in a joint venture with Germany’s Q-Cell SE, a maker of solar cells and related technologies. Sovello, based in Saxony-Anhalt, Germany, makes silicon-based solar-power products using Evergreen’s string-ribbon manufacturing process.
Read the full report in the Boston Business Journal.
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