AstroPower, Inc. “Astro” or the “Company”), is a market leader in developing, manufacturing, marketing and selling solar electric power generation products for the global marketplace. The Company’s broad array of products includes solar cells, modules, and systems. AstroPower utilized recycled silicon wafers, along with its proprietary Silicon-FilmTM technology, to produce high quality solar cells at very competitive costs.
AstroPower filed for voluntary relief under Chapter 11 of the U.S. Bankruptcy Code in February 2004 due to diminishing cash resources and to effectuate the sale of substantially all of its US based assets.
SSG was retained by AstroPower and quickly went to market due to the Company’s cash-strapped position. Soliciting interest from a broad array of both financial and strategic buyers, SSG facilitated due diligence and negotiated with several interested parties. Ultimately a bid by GE Energy was deemed highest and best and AstroPower was sold in March 2004.