Solar3D Inc., which installs solar systems and develops high efficiency cells, has raised US$12.5 million from a public offering of its shares ahead of a listing on Nasdaq.<\/p>\n
The initial public offer was led by Cowen and Co. The company said that by listing its shares on the NASDAQ, the Company is better positioned to attract institutional investors and analysts, as well as provide increased liquidity for its shareholders. \u201cThis is a major step in our acquisition strategy,\u201d said Solar3D\u2019s CEO Jim Nelson. \u201cThe combination of increased capital, market credibility and equity currency make it significantly more likely that we will attract and acquire high quality solar companies, which will further strengthen Solar3D.\u201d<\/p>\n
Solar3D said it expects to report 2014 revenues in the range of US$19.5 million to US$20.5 million with positive EBITDA, and is on a path to more than double its revenues in 2015. \u201cBecause the solar industry is highly fragmented, Solar3D will continue to focus on acquisitions in California and Nevada in order to create critical mass and strength in these high growth markets,\u201d Solar3S said.<\/p>\n
The company also completed the acquisition of MD Energy, another solar systems provider, which is based in Southern California. Similar to SUNworks, the existing operating division for Solar3D, MD Energy designs, finances, monitors and maintains solar systems. In 2014, MD Energy installed 14 commercial systems totalling 3.35 megawatts of capacity, with estimated revenues of US$6.5 to US$7 million.<\/p>\n
Solar3D designs and installs solar power systems for commercial, agricultural and residential customers. Its technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface.<\/p>\n","protected":false},"excerpt":{"rendered":"
Solar3D Inc., which installs solar systems and develops high efficiency cells, has raised US$12.5 million from a public offering of its shares ahead of a listing on Nasdaq.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[686,683,688,10],"tags":[],"class_list":["post-1033","post","type-post","status-publish","format-standard","hentry","category-americas","category-deals-finance","category-solar","category-technology"],"yoast_head":"\n