groSolar, a solar installation company has closed a $2.25 million venture financing to be used for national expansion.
Led by SJF Ventures, the financing round included three venture funds that specialize in the cleantech and renewable energy sectors, SJF Ventures, Calvert Social Investment Fund, and Allco Financial Group.
Said Jeffery Wolfe, groSolar CEO, “We are aggressively bringing groSolar solutions to the market, both through a preferred dealer network and through groSolar branch offices in under-served markets.”
groSolar installs solar electricity, solar hot water, and solar air heating in homes and businesses. The company delivers complete systems, turn-key solutions and zero energy home designs.
“We believe there is a significant investment opportunity in the deployment of both proven and emerging solar technologies,” said SJF Ventures Managing Director David Kirkpatrick. “The groSolar executive and product development team has the vision, expertise and technology partnerships to execute on this opportunity.”
ABOUT GRO
groSolar is a subsidiary of GRO, a national solar integration firm focused on designing, distributing and installing high quality energy systems.
GRO is a national solar integration firm, based in White River Junction, VT, which is focused on designing, distributing and installing high quality energy systems. GRO distributes solar electric, hot water and hot air systems throughout the U.S. from offices in VT, NJ, NY, MA and CO. The company recently changed its name from Global Resource Options to GRO. The company has more than $10MM in revenues, recently signed a four year, $88 million supply agreement for solar photovoltaic (PV) panels with Evergreen Solar. GRO integrates components from leading solar manufacturers including Evergreen, Suntech, Heliodyne, Outback, SMA, Magnetek, Gridpoint and UniRac into elegant solar energy systems for its customers that generate clean, reliable energy for decades.
Loading...