Avestor, the Canadian developer of Lithium-Metal-Polymer (LMP) battery technology, is shutting down. The company filed with the Office of the Superintendent of Bankruptcy in Montréal with a view to making a Proposal to its creditors on 31 October.
In August, the company had produced and shipped its 20,000th battery. At that time, Avestor said it had signed multimillion dollar, multiyear contracts with major telecommunications service providers in North America and also was a provider to several other telecommunications customers in North America.
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Avestor, the Canadian developer of Lithium-Metal-Polymer (LMP) battery technology, is shutting down. The company filed with the Office of the Superintendent of Bankruptcy in Montréal with a view to making a Proposal to its creditors on 31 October.
In August, the company had produced and shipped its 20,000th battery. At that time, Avestor said it had signed multimillion dollar, multiyear contracts with major telecommunications service providers in North America and also was a provider to several other telecommunications customers in North America.