Evergreen Solar Commences $60M Public Offering

Roxanne Palmer5/20/09

Evergreen Solar (NASDAQ:ESLR), a manufacturer of low-cost silicon-based solar power products, will offer $60 million in common stock, the Marlboro, MA-based company announced today. Proceeds from the offering are intended for the construction of a new factory in Wuhan, China, and the expansion of a facility in Midland, Michigan. Last year Evergreen closed its Marlboro, MA, facility and opened a factory in Devens, MA. The company posted a net loss of $64.3 million for the first quarter of 2009.

Roxanne is an intern in Xconomy's Boston office. You can reach her at rpalmer@xconomy.com.