SPG Holdings brings in $13 million for solar projects
SPG Holdings, parent company of solar system design firms SPG Solar and Thompson Technologies Industries, has raised $13 million in equity from the Global Environmental Fund and Robeco, according to VentureWire.
Based in Novato, Calif., SPG says it will use the funds to expand its market presence in the U.S. and abroad. Its solar companies create and sell photovoltaic installations for residential and commercial use in California, Arizona and Oregon. Earlier this year, it partnered with solar company Solyndra to install a 132-kilowatt array of panels on the roof of the Livermore Cinema in Livermore, Calif. — reportedly the largest solar system used by any movie theater in the U.S.
As Greentech Media points out, Solyndra’s panels are uniquely designed so that they are easier to mount. Made up of tubes instead of flat solar sells, these panels are also more resistant to the wind and other elements.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.