Meyer Burger Technology AG has secured US court approval to sell its US solar module manufacturing assets worth about $29 million to Waaree Solar Americas and Babacomari Solar North as part of the company’s insolvency proceedings under Chapter 11 of the US Bankruptcy Code for the group’s subsidiaries.  

The September 5, 2025, US court approval paves the way for Meyer Burger to sell the machinery and equipment for the production of solar modules to Waaree Solar Americas, and for solar cells to Babacomari Solar North. Waaree currently operates 1.6 GW of solar module production capacity in Texas and plans to achieve 5 GW module and cell production in the US by 2027 (see Waaree’s 1.6 GW US Solar Module Manufacturing Fab Commissioned). 

Following its German insolvency proceedings, Meyer Burger filed for Chapter 11 protection in June 2025 for its US subsidiaries – Meyer Burger (Americas) Lease Co., LLC, Meyer Burger (Americas) Ltd., Meyer Burger (Arizona) LLC, and Meyer Burger (Holding) Corp. This led to the company shutting down its operational Arizona module factory. It valued the company assets in the range of $100 million to $500 million (see Meyer Burger’s Chapter 11 Bankruptcy Filing In The US).  

Meyer Burger has so far failed to find an investor for the entire group of companies. As a result, the company says its silent debt moratorium, which allows it to temporarily suspend debt payments, will continue as a regular provisional debt moratorium. This impacts the parent company Meyer Burger Technology AG, and its 2 subsidiaries Meyer Burger Switzerland AG and Meyer Burger Research AG, all based in Thun, Switzerland.  

The management started insolvency proceedings for its solar cell factory in Thalheim on August 1, 2025, and for its development and mechanical engineering site in Hohenstein-Ernstthal on September 1, 2025. Most of its workforce across Germany (around 600), Switzerland (45 on notice), and the US (300) has been laid off. Only a small liquidation team remains on board as it winds down operations. It will not object to the company’s delisting from the Swiss Stock Exchange.

The Board of Directors of Meyer Burger Technology AG believes that there is no longer a realistic chance of rescuing the entire group of companies, including the parent. However, it will continue to offload parts or assets of the various group companies in Switzerland, Germany, and the US.

The failure to onboard any interested party to ‘rescue’ the solar company is owing to “the challenging competitive environment resulting from extensive module imports from China at very low prices, as well as considerable uncertainties regarding the future promotion of renewable energies in both the U.S. and Europe,” stated the board.

Europe’s efforts at establishing an industrial solar supply chain with 30 GW capacity by 2030 under the Net-Zero Industry Act (NZIA) have not been hugely successful so far, with several companies reporting bankruptcies. SolarPower Europe and the European Solar Manufacturing Council have now stepped up efforts to call for additional measures for Made in Europe PV.