Toledo Solar and First Solar have reached an agreement in their lawsuit, but details of the settlement remain confidential. Toledo Solar has also revealed the formation of a new investor-led independent board of directors and leadership team.
From pv magazine USA
Toledo Solar Inc. (TSI) has reached a settlement in a lawsuit brought by First Solar in May.
First Solar initially filed a lawsuit against Toledo Solar, a thin-film solar module manufacturer, which, according to court filing sold Malayasian-made First Solar modules under the Toledo name, claiming they were made in America.
First Solar stated that Toledo falsely claimed that it manufactured the solar modules that Toledo had provided for installation on the Ohio Governor’s mansion in Columbus, that Toledo falsely represent that the modules were made by Toledo in Ohio, and that Toledo advertised on social media that it manufactured certain solar modules in Ohio.
Details of the settlement are confidential; however, Toledo Solar announced a new investor-led independent board of directors and leadership team. The company said the change is to “re-affirm Toledo Solar’s commitment to US energy security by manufacturing high-quality American-made CdTe solar panels in Ohio for the residential, commercial, and industrial markets.”
Lead investor Sean Fontenot is the board’s new chairman. He noted that First Solar’s lawsuit came as a surprise.
“The recent First Solar complaint was a very concerning surprise. We are finalizing gathering all of the facts around this and expect to resolve the matter shortly. From our perspective, First Solar and Toledo Solar are critical partners in several critical industry programs that are important to the Government’s US Energy Security policies for American-made solar products, and we are re-dedicating our commitment to making sure this continues.”
Tom Pratt has been appointed interim president, treasurer, and secretary by Toledo Solar’s board of directors.
“I am looking forward to the opportunity to work with the Board of Directors for Toledo Solar and the impressive team, both technical and administrative, that is working hard to bring Toledo Solar’s innovative products to market,” said Pratt.
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Source: pv magazine