GM Puts $7.5M into Sunlogics
Sunlogics, a Rochester Hills, MI-based developer of thin-film photovoltaic arrays for solar energy farms, revealed today (PDF) that it has collected $7.5 million in equity-based financing from Detroit-based General Motors Ventures. GM also committed to buy solar charging canopies for Chevrolet dealerships and other GM facilities, and to purchase power from large-scale solar arrays built by Sunlogics. The company said the funding will help it to open a manufacturing facility in suburban Detroit employing 200 people, and another in Ontario employing 110 workers. “GM’s solar expansion and financial commitment provides a firm foundation for the growth of Sunlogics business worldwide and will bring more sustainable green energy to GM operations,” Sunlogic CEO Michael Matvieshen said in a statement.
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