Meyer Burger customer cancels USD-103m HJT equipment deal

An unnamed North American customer of Meyer Burger Technology (SWX:MBTN) has terminated its framework agreement with the company for the supply of heterojunction (HJT) core equipment.

The Swiss solar technology company announced the particular HJT core equipment supply deal, worth CHF 100 million (USD 103m/EUR 95m), in July 2019. The contract was conditional upon the successful closing of a financing round by the customer.

Last week, Meyer Burger said that the start-up had given it a formal notice of termination with immediate effect with respect to the framework agreement, having already delayed the placing of orders twice since the initial signing.

(CHF 1.0 = USD 1.029/EUR 0.950)

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