It was supposed to be a revolutionary invention, but there is a conflict. Columbus Energy cuts off Saule's credit drip

• Columbus Energy group companies have declared due and payable the loans granted to Saule.
• For Saule Technologies, this effectively means suspending its perovskite-related activities due to lack of access to financing.
• Business, image and personnel problems led to the general meeting of Saule shareholders being postponed.

Columbus Energy and its subsidiary Columbus Energy Finanse sp. z o. o. issued accounting notes to Saule and Saule Technologies demanding immediate repayment of the loans granted, together with interest accrued until the date of receipt of payments in their bank accounts.

Saul Technologies received a notice of termination of the loan agreement granted in March this year, as well as a demand for repayment by Saule within 10 business days of the amount of PLN 5.289 million along with due interest in the amount of PLN 93.9 thousand .

Columbus Energy indicated that the demand for repayment results from breaches of contract, including failure to deliver loan security documents within the time specified in the contract and failure to fulfill other obligations related to the loan.

In the case of Columbus Energy Finanse sp. z o. o., the request concerns the immediate repayment within 7 days of a loan in the amount of PLN 7 million along with interest in the amount of PLN 1.985 million .

Without money, it is impossible to carry out work on the use of perovskites

These decisions put into question the continued existence of Saule and its project to implement perovskites for mass use.

The growing conflict between Olga Malinkiewicz, who developed the technology for producing electricity from perovskites, and the other shareholders of Saule has been growing for several weeks.

During this time, there have already been many twists and turns, the involvement of the prosecutor's office to check the intentions of the shareholders, and changes in the company's management .

The general meeting of shareholders, scheduled according to the regulations for the end of June 2025, was cancelled due to the unclear legal and personnel situation in the company.

The exchange of blows between Saule Technologies shareholders continues

Michał Gondek, vice-president of Columubus Energy, was delegated to manage Saule; in the prepared opening audit he wrote: - Polish perovskites need another PLN 1 billion and 10 years of time .

Olga Maliniewicz's response was not long in coming. Her response leaves no illusions: - Information that is untrue , taken out of context, distorted, overinterpreted and harmful to the image and operations of Saule companies.

There are many indications that the coming weeks will bring many more twists and turns in corporate stocks.

Saule is listed on NewConnect and Columbus Energy on the main floor of the Warsaw Stock Exchange.