24 April 2012

Global Solar Energy seeks buyer for Portable Solar business

Global Solar Energy Inc of Tucson, AZ, USA, which makes flexible copper indium gallium diselenide (CIGS) thin-film photovoltaic cells and modules for applications ranging from lightweight portable solar chargers and traditional glass solar modules to building-integrated photovoltaic (BIPV) products, says it has engaged FTI Capital Advisors LLC (FTICA) member FINRA/SIPC, a wholly owned investment banking subsidiary of FTI Consulting Inc, to conduct an asset sale of its portable products business. Through the sale Global Solar will be better positioned to grow other business units serving the BIPV market, says the firm.

Global Solar's Portable Solar Business offers a lightweight, high-efficiency portable solar power solution for military applications, mobile professionals and outdoor enthusiasts. The Portable Solar Business sells products to more than 20 military customers and has commercial sales through retailers and OEMs worldwide.

CEO Dr. Jeffrey Britt said "The Portable Solar Business is positioned to recognize a fourth straight year of strong revenue and profitability. The time has come for Global Solar to realize value from the business and identify a buyer who will take the product line to the next level. Serving select markets which require lightweight power sources, these innovative solar products offer a unique opportunity to own a growing, profitable solar enterprise that generates strong, positive cash flow.

"Additionally, the sale of the portable solar business enables Global Solar to increase focus on our core product lines, namely Copper Indium Gallium diSelenide (CIGS) solar cells for OEMs such as Dow Solar and the company's commercial-scale flexible modules ideal for building integrated applications."

The firm says that it does not anticipate any disruption in production or service to its Portable Solar Business customers during the sale process.

Parties interested in participating in the sale process should contact Chris LeWand of FTICA at: chris.lewand@fticonsulting.com.

Tags: Global Solar Energy CIGS BIPV

Visit: www.globalsolar.com