The Aragonese startup Abora Solar, a pioneer in hybrid solar panels, has requested voluntary bankruptcy proceedings. The company is seeking a partner to provide €1 million to restructure its debt and save 15 jobs.
The Aragonese company Abora Solar, recognised for its innovation in hybrid solar panels, has entered voluntary bankruptcy proceedings. The Commercial Court of Zaragoza authorised the process on June 17, aiming to avoid the liquidation of the company. Founded in 2017 by Alejandro del Amo, the startup has faced financial difficulties since 2023 and now needs an investor to provide around €1 million to lighten its debt.
A failed strategy precipitated the crisis
Abora Solar enjoyed a golden period until 2022, when it was a finalist for the SME of the Year award from Cepyme and Banco Santander. The workforce reached 38 employees, and the company sold its panels to 39 countries. However, a shift in commercial strategy, opting for alliances with multinationals instead of working with the end customer, generated a debt that now burdens the business.
Company sources explain that "there was a change in the commercial strategy. We had grown by working with the end customer and shifted to forming alliances with multinationals. We stopped generating demand in the market and began to accumulate debt." The company has reverted to its previous model and claims to have achieved four consecutive quarters of positive results, which they consider proof of viability.
The company seeks an investor with €1 million
Despite generating over €2.5 million annually, the debt burden is too heavy. The company is looking for an investor partner to inject around €1 million to restructure its liabilities. "We are convinced that with an injection of €1 million and the positive balance we are achieving in recent quarters, we can revive the business," company representatives insist.
The bankruptcy administration is handled by Concursos Bajén y Roca S.L.P., based in Zaragoza. The company has not requested liquidation, hoping to reach an agreement with creditors. Among its most valuable assets are patents, such as the aHTech technology, which could attract investors interested in the renewable sector.
For readers interested in the energy sector or startups, this case illustrates the risks of rapid growth. Abora Solar demonstrates that innovation is not enough if the commercial strategy does not align with the market. The company has up to three months to present a proposal for an agreement with creditors, according to the legal timeframe for bankruptcy proceedings.
You may also like
