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Industrial materials and energy · absorbed · Switzerland

Meyer Burger Technology

meyerburger.com ↗

Swiss solar cell and equipment maker, now liquidated after losing to cheap Chinese panels.

Little protection left
Assessed 25 July 2026 · Evidence as of 25 July 2026
Not much stands between this business and its pressures.
On the recordSince 25 July 2026 · Checkable from pending as of mid-2026 · Every call on the record Checkpoint: Final decree closing the Meyer Burger (Holding) Corp. Chapter 11 case (No. 25-11217)
The call

Meyer Burger is not being disrupted by AI or any single rival; it ran out of cash competing against cheaper solar panels and is now liquidated, with its technology sold to Swift Solar.

Meyer Burger made solar panels using a high-efficiency technology called HJT, but it could not compete on price or volume against Chinese manufacturers like LONGi and Jinko, which dominate the market by making panels cheaper and faster. The company lost a huge customer contract in late 2024, ran out of money, filed for bankruptcy in the US, and closed down in Germany and Switzerland by mid-2026, laying off almost 900 workers. What matters now is whether Swift Solar, which bought Meyer Burger's technology and some of its engineers, can actually build and sell solar panels profitably at scale, which Meyer Burger could not.

Why
01
AI pressure: None apparent. AI had nothing to do with this. Solar panels are commodities and Meyer Burger lost on price, not on software. Could AI do the core job? Only partly.
02
Bigger players: Chinese Tier-1 manufacturers (Jinko, LONGi, Trina) and First Solar. Cheaper Chinese panels and First Solar's scale undercut Meyer Burger until it could not sell enough modules to cover costs. Could a giant copy it? Yes, easily.
03
What protects it. None left. Chapter 11 closed the US arm, the Swiss parent's moratorium expired, and shares were delisted from SIX in January 2026.
What would change this call
Final decree closing Meyer Burger (Holding) Corp. Chapter 11 case No. 25-11217. Confirms the US entity is fully wound down with no residual operations.
SASV litigation against Meyer Burger's boards reaches a filed case or public settlement. Shows whether shareholders pursue formal accountability for the collapse.
Swift Solar announces GW-scale production using acquired Meyer Burger HJT/SmartWire IP. Indicates whether Meyer Burger's technology survives commercially under new ownership.
Key numbers
  • Revenue fell from CHF 135M (2023) to CHF 69.6M (2024) (2024-12-31)
  • Lost DESRI's up to 5GW supply deal, Nov 2024 (2024-11-01)
  • Shares now trade OTC near $0.6M market cap (2026-06-01)
Named risks
  • Company is fully liquidated with no operating business remaining. Severity: high
  • Shareholder litigation from Swiss Investor Protection Association pending since July 2025. Severity: medium
  • Chapter 11 Remaining Case still open as of June 29, 2026, delaying final closure. Severity: low
  • Core IP and talent transferred to Swift Solar, leaving no residual technical assets. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Chinese Tier-1 manufacturers (Jinko, LONGi, Trina)losing toCited as cause of grave market distortion driving Freiberg plant closure, early 2024
First Solarlosing toExpanding to 18GW annual capacity by 2027 while Meyer Burger collapsed, 2026
Waaree Solar Americaslosing toAcquired Meyer Burger's US module equipment for $18.5M, September 2025
Oxford PVlosing toFormer perovskite-tandem partner, split acrimoniously July 2021, now competes on HJT-tandem
Questions people ask
Is Meyer Burger Technology still operating in 2026?
No. As of July 2026 Meyer Burger is operationally defunct: US subsidiaries went through Chapter 11 liquidation (filed June 25, 2025), German units are insolvent, and the Swiss parent's debt moratorium expired June 1, 2026 with shares delisted from SIX since January 14, 2026.
Did Meyer Burger go bankrupt?
Yes. Meyer Burger (Holding) Corp. and three US affiliates filed Chapter 11 in Delaware on June 25, 2025, listing $100M-$500M in assets against $500M-$1B in liabilities, while the Swiss parent entered a court-approved debt-restructuring moratorium starting May 30, 2025.
Who bought Meyer Burger's technology and talent?
Swift Solar, a California perovskite-tandem startup, acquired Meyer Burger's core manufacturing assets and global HJT/SmartWire IP portfolio in March 2026, and hired former CEO Gunter Erfurt and ex-R&D head Marcel Koenig to lead US GW-scale production.
Can I still buy Meyer Burger stock?
Meyer Burger shares were delisted from the SIX Swiss Exchange effective January 14, 2026, after the company failed to publish its 2024 annual report. Shares now trade over-the-counter as MYBUF with a market cap of about $0.6 million as of June 2026.
Why did Meyer Burger fail?
Meyer Burger collapsed from negative unit economics competing against lower-cost Chinese Tier-1 solar manufacturers and scale players like First Solar, worsened when D.E. Shaw Renewable Investments terminated an up to 5GW module supply contract in November 2024, triggering the 2025 bankruptcy filings.
How many jobs were lost when Meyer Burger collapsed?
Total global layoffs across the US, Germany, and Switzerland exceeded 900 people, including about 600 in Germany, 282 to 300 in Arizona when the Goodyear plant shut on May 29, 2025, and the remaining Swiss staff of roughly 45.
Timeline
  • 2026-06-29Chapter 11 Remaining Case (25-11217) still pending final decree closure
  • 2026-03-16Solestial acquired Meyer Burger Germany's manufacturing equipment
  • 2026-03-12Swift Solar acquired Meyer Burger's HJT/SmartWire IP and core R&D team
  • 2026-01-14SIX delisting of MBTN shares takes effect
  • 2025-12-01Swiss court approved definitive debt moratorium through June 1, 2026
  • 2025-10-13SIX Exchange Regulation ordered delisting of MBTN
  • 2025-09-17Arizona equipment sold to Waaree Solar Americas for $18.5M
  • 2025-06-25US subsidiaries filed Chapter 11 in Delaware
  • 2025-05-30Swiss parent filed for debt-restructuring moratorium
  • 2025-05-29Arizona plant shut, 282-300 layoffs
Revision history
25 July 2026
First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.
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