Saule Technologies, a Polish firm once hailed for its pioneering work in perovskite solar cell technology, is now on the verge of bankruptcy. Olga Malinkiewicz, the company’s co-founder renowned for her innovations in solar technology, has resigned amid mounting financial difficulties at the firm.
Malinkiewicz, who also serves as Saule Technologies’ co-founder, vice president, and largest shareholder, has filed a complaint with Poland’s National Prosecutor’s Office. She accused board members of Columbus Energy, an investor in Saule, and supervisory board members of both companies of actions detrimental to Saule’s interests.
Citing “serious irregularities,” Malinkiewicz stated she could no longer collaborate with existing investors and expressed willingness to negotiate with new partners. Columbus Energy, which holds an 18% stake in Saule Technologies, has denied the allegations.
The company argued that the claims, despite Columbus investing over 56 million złoty (USD 14 million) in support, divert attention from Saule’s financial mismanagement and failure to execute its business strategy.
The conflict has already triggered a leadership shakeup. In recent weeks, two supervisory board members at Saule with ties to Columbus have resigned.
