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Home arrow ABQnewseeker arrow Breaking: Advent Solar Cuts 68 Employees
Breaking: Advent Solar Cuts 68 Employees PDF Print E-mail

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Written by Andrew Webb   
Wednesday, 19 March 2008
Transition to new-size cells taking longer than expected

 

Advent Solar announced Wednesday it will lay off 68 employees and acknowledged a transition to larger-size photovoltaic cells is taking longer than expected.

The round of layoffs is the second in six months for the Albuquerque startup firm, which announced in September plans to retool its production line.
About 27 employees were let go then, but at the time the company expected to restart production early this year.
Advent president and CEO Peter Green said the company would need at least a year to complete research and developmnet, testing and independent certification of its new 156-millimeter-wide solar cells. Advent's original cells were 125 millimeters wide.
Until then, he said, the company will completely idle its manufacturing capability at its Mesa del Sol plant.
"We didn't know it would take as long as it's going to take," he said. "These are high-value employees, and it's with a great deal of reluctance that we let them go, but we just don't need manufacturing employees right now."
The affected employees will be offered two months of full pay and three months of full benefits, paid by the company, beginning today. Advent will also hold two job fairs with local companies, including newcomer Schott Solar, which plans to build solar cell modules and other photovoltaic technology in Albuquerque beginning in 2009.
Since its founding in 2002, Advent has raised about $110 million from multiple investors, including about $17 million from state permanent funds.
Green said the company is not having financial problems, and expects to hire manufacturing employees again early next year.
"Our financial foundation and technical expertise is solid," he said.
Advent's solar cells are based on technology developed at Sandia National Laboratories, which places both the positive and negative electrical contacts on the back side of each cell. The company says the technology has cost, efficiency and aesthetic advantages.

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