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.