HelioPower Inc., a supplier of clean energy solutions, completed its Chapter 11 Bankruptcy reorganization, according to SolarBuilderMag. The move considerably deleveraged the corporation’s ongoing enterprise and stabilized the monetary well being of the enterprise.
“This is a significant day for HelioPower,” stated Mo Rousso, President and Founder of HelioPower, “We’ve accomplished a complex restructuring in a very short time period and with our strengthened financial flexibility, we will now focus on our industry leading capabilities by providing integrated energy solutions to homeowners and businesses alike.”
HelioPower filed its Chapter 11 petition on April 25, 2017. The U.S.Bankruptcy Court for the District of Nevada authorized HelioPower’s Plan of Reorganization on August 16 and, with all terms having been met, HelioPower is cleared to emerge from Chapter 11.
“It is with deep satisfaction that we close this challenging chapter of HelioPower’s story, emerging from bankruptcy as a stronger company.” Mo continued, “We thank our creditors for working with us to make this new beginning possible, as well as our employees, our customers, our suppliers and our advisers. We look forward to returning to concentrate on providing high quality integrated energy options to our customers.”
HelioPower helps its customers cut their power prices and develop energy solutions by leveraging renewable power, demand management, and return on investment.