Meyer Burger delays half-year results while it looks for financing

Meyer Burger, a Swiss solar panel manufacturer, announced on Tuesday that it will postpone its 2024 half year results to September 16 in order to secure additional funding and a strategic partnership.

In a short statement, the company stated that "as reported previously, Meyer Burger has been working intensely to secure an additional funding and enter into a strategic partner with a renowned technological partner."

Meyer Burger announced that it will postpone publication of the results which were due to be published on Wednesday. The company did not provide any further details.

The company announced earlier this year that it had completed a capital raise via a

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The money will be used to complete the Colorado and Arizona manufacturing plants.

Meyer Burger's financial struggles have caused pressure on its shares. They are down more than 90% this year and well below the peaks reached in early 2023.

(source: Reuters)