Advanced Energy Systems Files for Bankruptcy
March 30, 2003 by Jeff Shepard
Advanced Energy Systems Inc. (AESI, Wilton, NH), a designer, manufacturer and installer of solar-powered inverters, announced that the company has run out of funding and filed for bankruptcy. The company holds patents and rights to significant photovoltaic system designs.
The company will be liquidated in
two phases. The first phase will be a sealed bid auction for all of the intellectual and proprietary property, as well as the entire MM-5000 and GC-1000 component inventory. The second phase will be a public auction of all other assets consisting of testing and design equipment, computer systems, solar panels and other facility equipment.