Ohio-based Toledo Solar, a cadmium telluride thin-film solar panel manufacturer announced it will end all research and development efforts and will wind down operations effective immediately.
“Unfortunately, we were unable to license certain technology needed to manufacture the cadmium telluride panels we were developing for the residential, commercial and industrial markets we were targeting,” said Tom Pratt, interim president, treasurer, and secretary of Toledo Solar.
Toledo had a 100 MW production line of modules for residential, commercial, and community scale solar projects.
Major cadmium telluride thin-film solar panel producer First Solar filed a lawsuit against Toledo Solar in 2023, that led to this business closure. It alleged that Toledo Solar sold Malaysian-made First Solar modules under the Toledo name, claiming they were made in America.
The companies settled out of the lawsuit, and Toledo Solar’s chief executive officer exited the company. Pratt and his group at Applied Business Strategy LLC joined the Toledo team after the CEO exit.
“Once it was determined that we did not have access to the appropriate technology, we pivoted to a different business model, but the hurdles to success were determined to be too high. Ultimately, the Toledo Solar Board determined that there was no viable path to continue the business and they have voted to cease operations,” concluded Pratt.
Image: Toledo Solar
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