Evergreen Solar

{{Infobox company

| name = Evergreen Solar, Inc.

| logo = Image:Evergreen-solar.PNG

| type = Public

| traded_as = {{ubl|{{OTC Pink was|ESLRQ}}|{{NASDAQ was|ESLR}}}}

| foundation = {{start date and age|1994}}

| location = Marlborough, Massachusetts; United States

| key_people =

| industry = Renewable Energy

| products = Solar Cells

| revenue = {{profit}} US$112 Million (FY 2008)[https://web.archive.org/web/20100912033717/http://www.wikinvest.com/stock/Evergreen_Solar_(ESLR)/Data/Income_Statement Evergreen Solar (ESLR) annual SEC income statement filing via Wikinvest]|

| operating_income = {{loss}} US$-75.0 Million (FY 2008)|

| net_income = {{loss}} US$-84.9 Million (FY 2008)|

| assets = {{increase}} US$1.00 Billion (FY 2008) [https://web.archive.org/web/20100912033701/http://www.wikinvest.com/stock/Evergreen_Solar_(ESLR)/Data/Balance_Sheet Evergreen Solar (ESLR) annual SEC balance sheet filing via Wikinvest]

| equity = {{increase}} US$520 Million (FY 2008)

| num_employees =

| parent =

| subsid =

| homepage = [http://www.evergreensolar.com www.evergreensolar.com]

| footnotes =

}}

Evergreen Solar, Inc. was "a fully integrated manufacturer of solar panels producing wafers, cells and panels."{{Cite web|url=http://evergreensolar.com/en/about/|title=Unbiased Home Solar Panel Advice - National Council for Solar Growth|website=evergreensolar.com|language=en-US|access-date=2018-07-20|archive-url=https://web.archive.org/web/20170112205208/http://evergreensolar.com/en/about/|archive-date=2017-01-12|url-status=dead}} On August 15, 2011, the company filed for Chapter 11 reorganization with the intent of selling its assets.Greentechmedia. "[http://www.greentechmedia.com/articles/read/evergreen-files-for-chapter-11-plans-to-sell-assets/ Evergreen Files for Chapter 11 Plans to Sell Assets]."{{Cite news|url=https://www.bloomberg.com/news/2011-08-15/evergreen-solar-seeks-bankruptcy-protection-with-debt-of-486-5-million.html|title=Evergreen Solar Seeks Bankruptcy With Plans to Sell Itself|work=Bloomberg.com|access-date=2018-07-20|language=en}}{{Cite web|url=http://www.bostonherald.com/business/technology/general/view.bg?articleid=1358998&pos=breaking|title=Technology {{!}} Boston Herald|website=www.bostonherald.com|language=en|access-date=2018-07-20}}

Evergreen Solar was founded in 1994 and until bankruptcy traded on the NASDAQ exchange.{{Cite web |url=http://altenergyinvestor.advfn.com/evergreen-solar.html |title=Evergreen Solar Key Facts |access-date=2007-05-29 |archive-url=https://web.archive.org/web/20070626151344/http://altenergyinvestor.advfn.com/evergreen-solar.html |archive-date=2007-06-26 |url-status=dead }} Evergreen produced proprietary "String Ribbon" solar cells for the photovoltaics industry. The company announced plans to close its main American factory and lay off the 800 workers there by March 2011. Evergreen is shifting production to China where it has a joint venture. The company received $21 million from Massachusetts, covering part of the cost of the Devens factory.{{Cite news|url=https://www.nytimes.com/2011/01/15/business/energy-environment/15solar.html?pagewanted=all|title=Solar Panel Maker Moves Work to China|last=Bradsher|first=Keith|work=The New York Times |date=15 January 2011 |access-date=2018-07-20|language=en}}

Company

Evergreen operated out of Marlborough, Massachusetts, USA and in 2007 announced plans to expand annual production from 17MW to 100MW.

In 2006 Evergreen, Q-Cells and Renewable Energy Corporation (REC) formed EverQ (later renamed Sovello), a joint venture to open a factory in Thalheim, Germany which was expected to produce 300 MW of photovoltaic modules by 2010. Sovello intended to make a public stock offering, but instead was acquired by Ventizz Capital Partners.

Evergreen's factory in Devens, MA opened in mid-2008 and expected to be producing at a rate of 80 megawatts per year by early 2009. A second phase was scheduled to begin ramping in early 2009 to produce an additional 80 megawatts per year.{{cite web |url=http://ccbn.10kwizard.com/xml/download.php?repo=tenk&ipage=5820139&format=PDF |title=IR Services | Morningstar U.S |website=ccbn.10kwizard.com |access-date=27 January 2022 |archive-url=https://archive.today/20120722142311/http://ccbn.10kwizard.com/xml/download.php?repo=tenk&ipage=5820139&format=PDF |archive-date=22 July 2012 |url-status=dead}} CEO Richard Feldt had said the company was eyeing expansion in Asia as well.[http://www.boston.com/business/ticker/2008/05/evergreen_solar_11.html Evergreen Might expand to Asia]

CEO Michael El-Hillow (appointed September 2010) closed the factory at Devens, MA at the end of March, 2011, shifting production to China.{{Cite news|url=https://www.nytimes.com/2011/01/15/business/energy-environment/15solar.html|title=Solar Panel Maker Moves Work to China|last=Bradsher|first=Keith|work=The New York Times |date=15 January 2011 |access-date=2018-07-20|language=en}}