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Evergreen Solar assets sold to Chinese company

Following its bankruptcy earlier this year, Evergreen Solar Inc has sold its core assets to China Private Equity Investment Holdings Inc for US$6 million in cash and 7.57m shares in CPEIH.

By Kari Williamson

The transaction consists of Evergreen Solar's core wafer business, including all intellectual properties.

The notification to the Securities and Exchange Commission also announced the termination of the contracts for CEO Michael El-Hillow, and the company's CFO, Chief Strategy Officer, CTO, and the President and General Manager of Asia operations.

Christian M. Ehrbar has been appointed new CEO and Paul Kawe is now CFO.

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Photovoltaics (PV)  •  Policy, investment and markets  •  Solar electricity