German micro-inverter maker Solarnative files for insolvency

German PV micro-inverter maker Solarnative GmbH said on Friday it has decided to file for insolvency as it will not be able to secure fresh financing within the legal deadlines.

The news comes days after Solarnative revealed it is seeking a buyer because it urgently needs funds to support the global roll-out of its product, which is considered to be the smallest inverter worldwide.

“Although the company has received generally positive feedback from potential investors, it is not possible to secure new financing within the legal deadlines,” Solarnative said.

The firm became in dire straits as a result of the intensifying price war in the segment which is dominated by Chinese manufacturers and has been dealing with oversupply over the past year.

The challenging market conditions have put strains on other solar technology companies in Europe, as well. Swiss solar products manufacturer Meyer Burger Technology AG said in February that it is shutting down module production at its site in Freiberg, Germany. Solar panel manufacturer Solarwatt has also signalled intentions to close a German factory.

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