Groningen, Netherlands-based Soly, a global photo voltaic power firm, has been declared bankrupt.
The announcement was made by the co-founder, Milan van der Meulen, by way of a LinkedIn put up. The announcement comes over a yr after elevating €30M in funding led by ArcTern Ventures.
The chapter petitions for Soly Holding B.V. and Soly NL SSC B.V. had been filed by the corporate and formally accepted this week by the District Courtroom of Groningen.
“We’re deeply saddened and dissatisfied by this final result. It’s troublesome for us to simply accept that loyal staff, companions, and different stakeholders at the moment are dealing with uncertainty,” says van der Meulen.
Though the founders and shareholders are now not operationally lively inside Soly, they’ve spent the previous few days exploring alternate options to their present state of affairs.
In keeping with van der Meulen, the choice was made regardless of efforts in current days to suggest alternate options that might have prevented insolvency.
“Though we had been now not operationally lively inside Soly, as founders and shareholders, now we have spent the previous few days doing every little thing we may to search out alternate options to this case. These alternate options had been additionally offered. In the long run, a distinct resolution was made by administration and the opposite shareholders. Even on this new state of affairs, we stay keen to actively discover prospects for a (partial) restart,” provides van der Meulen.
Based to make photo voltaic power accessible
Soly was based in 2013 by brothers Patrick and Milan van der Meulen to make photo voltaic power obtainable to everybody.
The founding duo was impressed at a younger age by Al Gore’s documentary “An Inconvenient Fact” and has since determined to make use of their entrepreneurship as a pressure for good.’
