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October 6, 2008
Bethel,
CT, USA: Apollo Solar Completes $4.5M Private Offering
Apollo Solar, which specializes in the design and manufacture
of premium power electronics for solar energy systems, has raised
$4.5 Million in a private offering of preferred stock. The capital
raised will be used to expand manufacturing operations and to
dedicate more resources to the marketing of the Apollo Solar product
line. The company provides inverters, charge controllers, and
communications modules that are integrated into complete PV power
management centers.
"The
global PV market now requires reliable and easy-to-install electronics
that optimize power production and offer remote data-monitoring
that can quantify system performance," said John Pfeifer, President/CEO
of Apollo Solar. "With this working capital, we can meet the production
demand for our power management centers that improve the solar
value proposition, even when installed in remote locales with
extreme environments."
Apollo
Solar was also recently awarded a contract by the U.S. Department
of Energy for the development of next-generation inverters and
energy management systems. The products being developed will communicate
with utility energy portals for the 'Smart Grid', the seamless
two-way power flows now being planned by the electric-utility
industry.
Apollo
Solar power management systems are designed for fast, fail-safe
installation and feature exclusive built-in energy-performance
meters together with wireless and web-based remote data-monitoring
and upgrade capabilities. The product line is known for its robust
thermal design and optimal solar energy harvest. Apollo Solar
power centers increase performance, enhance reliability, and reduce
the upfront and life-of-system cost of residential, commercial
and remote telecom PV installations.
Further details about: Apollo
Solar
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