Groningen, Netherlands-based Soly, an international solar energy company, has been declared bankrupt.
The announcement was made by the co-founder, Milan van der Meulen, through a LinkedIn post. The announcement comes over a year after raising €30M in funding led by ArcTern Ventures.
The bankruptcy petitions for Soly Holding B.V. and Soly NL SSC B.V. were filed by the company and officially approved this week by the District Court of Groningen.
“We are deeply saddened and disappointed by this outcome. It is difficult for us to accept that loyal employees, partners, and other stakeholders are now facing uncertainty,” says van der Meulen.
Although the founders and shareholders are no longer operationally active within…