BETHLEHEM — Monolith Solar owner Steve Erby confirmed that the company has signed with an investor to begin a “recurring revenue stream in the form of financing” after appearing at the town’s Industrial Development Agency board meeting on Friday, Feb. 22., although exact details and the investor’s name were not disclosed at the time.
“We’re anxious to go to the next level and show the world what we can do with renewable energy, really reducing our burden on fossil fuels and hopefully convince the naysayers to open their minds a bit to renewable power,” he said.
He also confirmed that Monolith Solar is still operational.
Erby also said that since the solar installation company had furloughed close to 70 workers in September 2018, it has begun rehiring some of them back, although he noted that “a lot of them found jobs already so we’ve been trying to call people back.”
However, he said he understood the situation since such furloughed workers needed employment in the meantime, which then prevented them from returning to Monolith Solar.
He also confirmed that Monolith Solar has been working with the Glenmont Job Corps Center and has offered a few jobs through that program.
“Pioneer Bank has been working diligently with us and with consultants that were hired by KeyBank,” he said but did not elaborate further. “Everyone has been working with us very diligently to get through this process and come out the other side even better and stronger than we were before.”
Regarding the incomplete $4.9 million Slingerlands headquarters building at the Vista Technology Park, it remains unclear, given Monolith Solar’s new updates, when it intends to resume construction since it was not discussed much during the IDA meeting. Construction had ceased back in September 2018, the same time as when Monolith Solar furloughed many of its employees.
The building’s site plan, which was issued in March 2015, had expired on Thursday, Dec. 13 after receiving two 90-day extensions.
The building permits recently expired on Thursday, Jan. 31 too, so if Monolith Solar intends to restart construction, it has to apply again to the Bethlehem Planning Board for re-approval of both documents.
“I’m going to fight to keep the building and see what we can do … but as you all know, we have to work with the banks and creditors right now,” Erby said before the IDA board.
However, he maintained his optimism by saying, “I think we’re going to be tenfold better coming out of this and I’m really proud of my team and our collaboration with KeyBank and Pioneer. We’ve been hard at work, sleepless nights, keeping the momentum going forward but it’s a lot of fun.”