Maryland-based Standard Solar Inc., announced that it has received an investment of $3.5 million by Truecast Capital, LLC of Middleburg, Virginia.
The 3-year old solar energy services company, headquartered outside Washington, DC, has quickly grown to be the area’s largest provider of residential and small commercial solar power systems.
"We are excited by this vote of confidence in not only our company, but in the rapidly growing market in this region for solar energy systems," said company founder and chairman, Neville Williams. "We have thus far confirmed our belief that many homeowners and businesses want to buy solarelectric systems, but they don’t know who to call. That’s why we launched Standard Solar."
"This investment is a credit to the progress Standard Solar has made and enables the company to fulfill its vision to become the premier installer of solar serving the residential and commercial markets, " said Steve Lamb, a managing partner at Truecast Capital, LLC.
Truecast Capital’s investment will be used to build Standard Solar’s capacity to meet the demands of the clean energy marketplace in the Washington, DC metropolitan area and beyond. Standard Solar is a Delaware Corporation, founded in early 2005, doing business in Maryland, Virginia and the District of Columbia. The company launched operations in mid-2006 after Lee Bristol, General Manager and VP, merged his residential solar installation business with Standard Solar.
Clifford and Bristol will lead the company’s expansion plans, which include Baltimore, Delaware, Pennsylvania and the Mid-Atlantic region.
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