Spectrawatt is bankrupt. It is a solar cell manufacturer which originally fell off Intel.
Intel turned out Spectrawatt back in 2008. Its factory eventually opened in May last year but closed as soon as December. Right now, Spectrawatt wants to flog off the tens of millions of assets it has and has filed for bankruptcy, reports the EE Times.
Intel, the company which runs the world and its chips, proved that it can at least do some wrong. Intel Capital invested roughly $50 million in SpectraWatt. A subsidiary of Goldman Sachs, Cogentrix Energy, got involved too.
SpectraWatt says it’s not its fault. The problem lies in not playing well with others, namely vendor disputes. It also says it’s harder to operate compared to countries where there are higher subsidies and lower labor costs.
Solar cells are huge business, and as demand rises globally, Intel will hope to file this whole effort away in Room 101.