United Solar partnership Baraclit a way out from bankruptcy?

United Solar partnership Baraclit a way out from bankruptcy?

Announcement of a new partnership between Michigan-based United Solar and Italian Baraclit Spa offer hope for the US thin-film solar manufacturer in the face of a bankruptcy.

While United Solar and its parent company, Energy Conversion Devices, filed voluntary petitions for Chapter 11 reorganization in bankruptcy court last month, the Baraclit announcement shows that the world market has faith in the United Solar product, said spokeswoman Kim Paulson.

The partnership was developed before the bankruptcy was announced, but remains strong, she said.

“This is a huge opportunity for us,” Paulson said of the Baraclit partnership.

Baraclit is an Italian leader in concrete prefabrication buildings for commercial and industrial use. It has 10 million square meters of industrial rooftop that could be eligible for Italy’s robust incentives for innovative building-integrated solar.

While the country’s solar installations are reportedly slowing because of falling rebates and government incentives, a feed-in-tariff for building-integrated solar remains robust, Paulson said.

“That is right in our sweet spot,” Paulson said. “We provide a panel that can be building integrated.”

The company’s Uni-Solar photovoltaic solar laminates are ideal for incorporating into existing building materials, such as rooftop shingles.

That means Italy’s additional focus on distributed rooftop solar energy production also gives United Solar an advantage there.

Europe has been good to the company since it launched its Uni-Solar laminates, Paulson said. Almost three quarters of the company’s business has come from Europe, which has been the most active region for solar installation over the last five years to a decade.

The Baraclit partnership is just one of many partnerships with European companies interested in incorporating United Solar’s product.

“Every partnership we enter is unique,” Paulson said. “Those partnerships get us out there.”

All of the company’s partners have been very supportive through the bankruptcy filing, Paulson said.

“They really believe in the product and the company,” she said.

United Solar is hoping investors will scoop up its division of Energy Conversion Devices as most in the industry believe it’s a viable arm of the company that produces cutting-edge and up-and-coming technology that is now and will continue to be in demand, Paulson said.

The company did stop production in November until is can sell excess inventory, she said.
 

 

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