ET Solar, Inc. has a broad sales channel and network in the residential, commercial and utility solar market in the United States and has been a Bloomberg Tier 1 Solar Manufacturer since 2012. Due to U.S. solar trade tariffs, ET Solar, Inc filled chapter 11 bankruptcy in federal courts in Dec. 2017. Based on the positive outlook for the US PV market demand, the excellent reputation of the ET brand in the US market (still Bloomberg Tier 1 Solar Manufacturer in 2019 Q1), the US Bankruptcy Court approved the plan of reorganization of ET Solar, Inc. on February 11, 2019. After the restructuring of ET solar Inc., Yuanfar and Wuxi Bardon Company are now standing behind the ET Solar brand in the U.S. and its U.S. Operations team.
Yuanfar (www.yuanfar.com) was founded in 2001 and is a subsidiary of the China Aerospace Science and Technology Group, a sizeable government-owned enterprise. The company is a key subsidiary in the modern service sector of the Group, which takes on the critical task of contributing international revenue to the Group through supply chain financial services; Yuanfar acts as the purchasing agent and guarantor. Yuanfar has been devoted to financial supply chain business, which turns out a great success to be “Excellent Partner” of Softbank Energy by providing 435MW Poly PV Modules in 2018.
Wuxi Bardon company was founded in 2011, used to be committed to solar cell marketing, module manufacturing, and power plant project development. With deep cooperation with Yuanfar in 2018, BD already set up mature financial supply chain business pattern, serving for several oversea markets such as India, Israel etc.
Yuanfar and BD have committed to support ET Solar in the United States which includes taking advantage of Yuanfar’s muscular financial strength on behalf of ET Solar Inc’s. PV module orders in the United States and will provide an average monthly supply chain financial support of $50 million to ensure the delivery of orders.
Yuanfar and BD will use the supply chain management channel to assist ET Solar Inc. to set up a global OEM and supply chain capabilities (Vietnam, Thailand, Cambodia and Turkey factory);
Moreover, ET Solar and its new shareholder will continuously invest in R & D investment to guarantee the future stability and reliability of the product which includes Poly, Mono perc, bifacial, half-cut and HJT module.
Last but not least, customer service is a vital focus of the new ET Solar, Inc. in the United States. They were communicating with one of the largest utility-scale solar project developer about a warranty claim before chapter 11 and will provide panel replacement and financial compensation to the customer after reorganization.