الجمعة، فبراير 23 فبراير 2024
Meyer Burger Technology AG shifts focus to the U.S., aiming for stability with new investments. The strategic move includes closing a major site in Europe and seeking U.S. funding.
Meyer Burger Technology AG faces challenges in Europe a press release from Meyer reports they are working towards securing a future in the US market. The company sets a 2 GW annual capacity goal. This effort is part of a strategy to overcome a CHF 450 million gap and achieve cash flow stability.
The plan may include USD 300 million from a U.S. manufacturing tax credit and a USD 200-250 million loan from the Clean Energy Financing Loan Program. These funds are for completing solar plants in Colorado Springs and Goodyear, Arizona, aiming for 2024 operational readiness. Yet, financial uncertainties pause some Colorado investments.
Despite a USD 95 million German government credit facility guarantee. Meyer Burger will close its Freiberg site in Germany by April claims Bloomberg, ending production in March. Sentis Capital Cell 3 PC, a major shareholder, is ready to inject up to CHF 50 million in equity financing.
Meyer Burger seeks partnerships to enhance funding and growth, focusing on customer access, market entry, and technology licensing to reduce capital intensity and support expansion.
The shift to the U.S. is a response to challenges from low-cost Chinese imports, impacting European solar manufacturers. This strategic change, including closing a significant European solar facility, is Meyer Burger’s path through industry challenges.
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