PVTIME – Polish firm Saule Technologies, once a shining light in perovskite solar innovation, now faces bankruptcy. The situation worsened following the resignation of co-founder Olga Malinkiewicz, a key figure in the company’s technological advancements.
Malinkiewicz, who is also Saule’s vice president and largest shareholder, has filed a complaint against the board members of investor Columbus Energy and Saule’s supervisory board. She alleges that their actions have damaged the firm. She has distanced herself from existing investors, claiming “serious irregularities”, and is open to new partnerships.
Columbus Energy, which holds an 18% stake in Saule Technologies, denies the accusations. Despite investing over 56 million zlotys ($14 million), it contends that Malinkiewicz’s claims mask Saule’s financial mismanagement and strategic failures.
The conflict has triggered leadership shake-ups, with two Columbus-affiliated supervisory board members recently stepping down. This saga highlights the significant challenges that renewable energy start-ups face in balancing innovation with financial stability.
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