The provider of complete High-Concentration Photovoltaic (HCPV) solution lost the investment support from ABB and laid more than 60 persons of its 80 person staff.
GreenVolts raised $35 million in funding in December 2011, with $20 million of that coming from ABB. The rest of employees will provide customer support and pursue other options, such as working with parties interested in buying GreenVolts' system, technology and intellectual property.