PosiGen, a solar company with a mission to “make solar energy affordable for homeowners of all income levels,” has laid off 49 employees at its two local locations, 400 Davis Road (Suite 400) in Plymouth Meeting and 241 East Elm Street in Conshohocken. The layoffs were effective as of August 24th.

The Philadelphia Business Journal reported on the layoffs on August 26th and noted that in a letter to the United States Labor Department, Posigen’s Chief Administrative Officer, John Truschinger, wrote that the company is ceasing most operations nationwide, citing financial difficulties.

From the Philadelphia Business Journal:

The document from Truschinger states the company is looking to obtain financing to continue some operations or sell the company. If not, four remaining employees that report to the two Montgomery County facilities will also be terminated.

PosiGen was founded in 2011 and opened its Conshohocken location in 2024 (we could not find details on when it opened in Plymouth Meeting). A representative of Posigen recently took part in a local climate action plan presentation before Conshohocken’s borough council crafted by the borough’s environmental advisory council.