Petra Solar Raises $40M For Utility Pole Panels
alarmClock Feb 09 10Petra Solar out of South Plainfield, NJ has raised $40M in 2nd-round funding. Craton Equity Partners and Espírito Santo Ventures co-led the round and were joined by return backers Element Partners, Blue Run Ventures, OnPoint Technologies and Kuwait's National Technology Enterprises Company. The company's strategy is to partner with utility companies to install solar panels on utility poles. This has two benefits in that the poles are cleared for solar panels so don't have to undergo lengthy public debate and the grid doesn't have to be extended to capture solar energy. Petra Solar will use the new round of financing to expand its customer base, with plans to hire another 30 executive and professional employees immediately. Full story...
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Italian Electrical Plant Powered By Evergreen Solar Now Online
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SEO Platform BrightEdge Raises $6.5M
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