SoloPower raises another $12 million
By Christina Williams
Sustainable Business Oregon editor
SoloPower raised $12 million more as it ramps up production in Portland.
SoloPower closed this week on a $12 million round of financing, a week after opening the doors to its first full-scale manufacturing facility in Portland.
According to documents filed with the U.S. Securities and Exchange Commission, the $12 million came from a combination of debt financing and options or warrants.
The additional funding comes during a week where Mitt Romney, the Republican nominee for president, trash-talked the likes of Solyndra and Tesla during a debate with President Barack Obama, holding them up as examples of misguided investments by the Obama administration.
SoloPower, recipient of the same type of federal loan guarantee — SoloPower's is for $197 million — as the companies Romney called "losers," is working to ramp up production in Portland quickly to take advantage of what CEO Tim Harris said last week is a strong demand for lighter, flexible solar panels ideal for industrial buildings.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.