28 Jun '12, 2pm

Breaking News: Abound Solar to Soon Close its Doors: Greentech Media has learned from reliable sources within

Breaking News: Abound Solar to Soon Close its Doors: Greentech Media has learned from reliable sources within

Greentech Media has learned from reliable sources within the company that Abound Solar will be shutting its doors as soon as Thursday, after failing to find a buyer. Our source indicates that there will be an all-hands meeting at 11 a.m. on Thursday to break the news. Trent Waterhouse, listed as a "Proven Marketing Turnaround Expert " on LinkedIn, is "assisting Abound Solar with their communications activities." Waterhouse said that "Abound is not closing tomorrow," adding, "Abound staff is not being laid off immediately." The VC-funded DOE loan-recipient was working with the cadmium telluride (CdTe) thin-film materials system and had hoped to achieve the success of its CdTe competitor First Solar. The firm was the beneficiary of a $400 million DOE loan guarantee, only $70 million of which has been drawn down. So, despite the imminent comparisons to Solyndra, this is bad n...

Full article: http://www.greentechmedia.com/articles/read/Breaking-News...

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