Meyer Burger Focuses on Module Production in Arizona and Initiates Comprehensive Restructuring Measures

Meyer Burger Technology AG will no longer proceed with the planned solar cell production facility in Colorado Springs, Colorado. The project has been deemed financially unfeasible. Instead, the focus shifts to ramping up the existing 1.4 gigawatt module production capacity in Goodyear, Arizona.

The current cell production site in Thalheim, Germany, will remain operational, ensuring a stable supply to the Goodyear facility. Due to market conditions, expanding the Goodyear facility by an additional 0.7 gigawatts has been suspended but remains a future option.

Debt financing via 45X tax credits will be pursued at a reduced scale. Consequently, Meyer Burger expects lower financing needs and a lower medium-term profitability target. A comprehensive restructuring and cost-cutting program will be implemented to achieve sustainable profitability.

In light of these changes, Meyer Burger has postponed its half-year financial results publication. Furthermore, Board member Mark Kerekes has resigned. A new Board composition is anticipated to align with the company's strategic changes.