HelioPower Inc., a provider of integrated energy solutions, successfully completed its corporate and financial reorganization, under Chapter 11 of the United States Bankruptcy Code, substantially deleveraging the company’s ongoing business and stabilizing the financial health of the business.
“This is a significant day for HelioPower,” said 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 less than 4 months ago, on April 25, 2017. The U.S Bankruptcy Court for the District of Nevada approved HelioPower’s Plan of Reorganization on August 16 and, with all conditions 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 focus on providing high quality integrated energy solutions to our customers.”
HelioPower helps its clients reduce energy costs and develop energy assets by leveraging renewable energy production, demand side management, and return on investment strategies for clients in the U.S. and abroad.
— Solar Builder magazine