US-based cadmium telluride (CdTe) thin-film solar module manufacturer Toledo Solar has announced it is winding down its operations, with immediate effect. In a brief note, it said the company will be ending all research and development efforts.
The Managing Director of Applied Business Strategy LLC, and Interim President, Treasurer, and Secretary of Toledo Solar Tom Pratt said, "Unfortunately, we were unable to license certain technology needed to manufacture the Cadmium Telluride panels we were developing for the residential, commercial and industrial markets we were targeting."
Pratt came on board a year back, in July 2023 to lead a 'turnaround effort of the business,' which didn't come through.
In September 2023, Toledo reached an agreement with another CdTe manufacturer First Solar over a lawsuit the latter filed against it in May 2023 accusing the company of selling its Series 4 modules under the Toledo brand.
The First Solar lawsuit led to Toledo transitioning to a new investor-led Independent Board of Directors and leadership team, led by Pratt.
Back then, Toledo said it would change its strategic direction to focus on technologies to hardened solar panels for specific geographies. It was also to develop technology to create high-powered semi-transparent solar panels for use as windows in buildings, greenhouses, and semi-transparent canopies (see US CdTe Solar Manufacturers Decide To Bury The Hatchet).
Now, announcing the company's shutdown, Pratt added, "Once it was determined that we did not have access to the appropriate technology, we pivoted to a different business model, but the hurdles to success were determined to be too high. Ultimately, the Toledo Solar Board determined that there was no viable path to continue the business and they have voted to cease operations."
Pratt will stay on to decommission the Perrysburg facility.
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