By Boston Business Journal

Solar energy panels maker Evergreen Solar Inc. is one step closer to final delisting from the Nasdaq Stock Market after Nasdaq filed a delisting form with the U.S. Securities and Exchange Commission.

With Nasdaq filing what is called a Form 25 with the SEC last night, the delisting will become final in 10 days. However, Evergreenâ¿¿s stock, which has been listed as ESLR, had already been suspended from trading on August 24, nine days after Evergreen filed for bankruptcy protection.

Marlborough, Mass.-based Evergreen ran into difficulty when competitors in China dramatically undercut its prices at a time when global demand for solar panels was falling.

Nasdaq did note that Evergreen⿿s common stock is quoted on the Pink OTC Markets Inc. (the ⿿Pink Sheets⿝) under the symbol ⿿ESLRQ.⿝

Evergreen is one of two Boston-area energy technology to face a delisting threat. The Nasdaq has also moved against Beacon Power, which makes flywheel-based frequency regulation technology, even as the firm seeks financing for new plants.

Copyright 2011 American City Business Journals

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