February 4, 2023

Volume XIII, Number 35

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February 03, 2023

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United Solar Ovonics Assets to be Sold Piecemeal

When Energy Conversion Devices, Inc. filed for bankruptcy in February, the announced intention was to sell intact its subsidiary United Solar Ovonic LLC. When the only bid for the flexible thin film solar module company was $2.4 Million (and the strong suggestion that the bidder had no interest in continuing to operate the company), the auction date was extended. Then on May 7 it was announced that the auction process was being terminated and preparations were begun for a liquidation of the companies’ assets. Ironically, in mid-April it was announced that the United Solar product outperformed its competition in a University of Notre Dame demonstration installation.

© 2023 Varnum LLPNational Law Review, Volume II, Number 167
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About this Author

Bruce Goodman, Environmental lawyer, Varnum
Counsel

Bruce practices energy law, environmental law, and construction law. His energy background includes negotiating electric power sales agreements (both for wholesale sellers of energy and for retail consumers of energy) state electric rate cases, developing municipal energy tariffs, and energy project structuring and permitting. For years, he published a blog focused on alternative energy developments in Michigan. Most recently he has been involved in various alternative energy projects, including wind energy, biofuels and solar projects.

His environmental experience includes air...

616-336-6574
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