...hier. Ich habe mal versucht das Internet zu durchstöbern um neue News zu finden. Allerdings ist seid Januar 2010 wieder Funkstille seitens der Geschäftsführer. Naja. Ich poste dann trotzdem mal den Artikel von Dezember 2009 aus dem 21Ventures Newsletter Q4 von Januar 2010. Dieser Artikel hilft auf jeden Fall einen Überblick über die derzeitige/zukünftige Situation von Applied Solar zu bekommen...
APPLIED SOLAR LAUNCHED AS A WHOLLY OWNED QT COMPANY FOLLOWING EMERGENCE FROM BANKRUPTCY.
In October of 2009, Applied Solar emerged from bankruptcy as a private
company that is now wholly owned by the Quercus Trust. This follows
almost a year of major restructuring that has seen the company shed
manufacturing assets and transform itself into a licensor of intellectual
property (IP) for Building Integrated Photovoltaic (BIPV) roofing products.
The company has also shed its public ownership structure, the complexity
of which made it almost impossible to raise working capital throughout
2009. The transformation into a wholly-owned Quercus Trust company
comes as a result of QT’s successful bid to acquire substantially all of the
assets of predecessor company that had filed a chapter 11 bankruptcy
restructuring in July of 2009.
Applied Solar’s business is focused on developing BIPV products for both
residential and commercial building rooftops. The company originally
manufactured these products in facilities in Toronto, Canada and northern
California. Eventually, the company migrated away from a direct manufacturing
platform, and towards a contract manufacturing operation in a bid
to further reduce product manufacturing costs. In early 2009, and as a
result of the continued working capital constraints and product warranty
commitments, the company further migrated towards a licensing model,
through the execution of two separate BIPV product licensing agreements
with Suntech Power, the largest solar module manufacturer in
the world. This model has proven very successful and has allowed the
company to focus its efforts on further developing industry leading BIPV
products and to develop additional strategic partnerships within the
industry. Becoming a privately held, Quercus Trust company has further
enhanced Applied Solar’s ability to negotiate additional licensing agreements
within the solar industry.
Another key advantage resulting from the bankruptcy restructuring and
subsequent purchase of the original Applied Solar assets by the Quercus-
Trust, has been management’s ability to launch another new business
in conjunction with both the Quercus Trust and other strategic partners
of Applied Solar. More specifically, this month will see the formal launch
of OneRoof Energy, Inc., which is providing a proprietary sales platform
and residential solar lease financing vehicle specifically for the roofing
and building industry, thus enabling an entirely new solar distribution
channel. The company further leverages the BIPV products licensed by
Applied Solar, manufactured by Suntech Power and further distributed by
Eagle Roofing, the largest residential concrete tile manufacturer in North
America, and builds upon management’s success track record in driving
BIPV products through the roofing channel. In addition to the Quercus
Trust, other participants in OneRoof Energy include Suntech Power, Eagle
Roofing and Tritec Energy, one of the largest solar distributors and integrators
in Europe.
In summary, while the process of restructuring Applied Solar has been a
challenge on a number of fronts, the ability to operate as a privately held,
Quercus Trust company has significantly enhanced the business prospects
for the company and its strategic partners. In the course of doing
so, new products and business opportunities are already beginning to
materialize, many of which would not have been possible as a result of
the prior company’s ownership structure and limited access to capital.
Written by David Field, CEO 31 December 2009
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