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 publish. 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. have been filed by the corporate and formally authorised this week by the District Courtroom of Groningen.
“We’re deeply saddened and disillusioned by this final result. It’s troublesome for us to just accept that loyal staff, companions, and different stakeholders are actually going through uncertainty,” says van der Meulen.
Though the founders and shareholders are not operationally lively inside Soly, they’ve spent the previous few days exploring alternate options to their present state of affairs.
In accordance with van der Meulen, the choice was made regardless of efforts in latest days to suggest alternate options that would have prevented insolvency.
“Though we have been not operationally lively inside Soly, as founders and shareholders, we’ve spent the previous few days doing every thing we might to search out alternate options to this example. These alternate options have been additionally introduced. In the long run, a unique choice was made by administration and the opposite shareholders. Even on this new state of affairs, we stay prepared to actively discover potentialities 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 accessible to everybody.
The founding duo was impressed at a younger age by Al Gore’s documentary “An Inconvenient Reality” and has since determined to make use of their entrepreneurship as a drive for good.’
