On 22 July 2019, Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced that it had signed a framework agreement with a North American-based solar cell manufacturing start-up company relating to Meyer Burger's heterojunction (HJT) core equipment for the production of solar cells. Pursuant to this framework agreement, the placing of orders is subject to the successful completion of a financing round by the start-up company. On 4 November 2019 and 13 February 2020, Meyer Burger announced that the placing of orders was being delayed.
The start-up company informed Meyer Burger that it does no longer intend to place orders in accordance with the framework agreement and has given Meyer Burger formal notice of termination with immediate effect with respect to the framework agreement.
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