to-the-point Southridge to invest USD 5m in Andalay Solar
Jul 30, 2015 11:15 CEST
July 30 – US financial holding firm Southridge LLC on Monday said its investment arm Southridge Partners II LP has agreed to buy a USD-5-million (EUR 4.6m) stake in California-based company Andalay Solar Inc (OTCQB:WEST).
Andalay Solar mainly designs and supplies integrated solar power systems. Its products integrate the racking, wiring and grounding directly into the alternating current (AC) solar panel, which lowers rooftop photovoltaic (PV) array components and labour costs by roughly 80% and 50%, respectively.
The company has over 30 pending or issued patents for solar panel installation technology, according to the press release.
(USD 1.0 = EUR 0.911)
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