GM Ventures Invests $7.5m in Solar Energy Company
General Motors Ventures LLC announces an equity investment of $7.5 million in Sunlogics PLC, a company that is specialized in solar project development and installation.
GM also signed commercial agreements with Sunlogics for the installation of solar charging canopies at Chevrolet Volt dealerships as well as solar panels on the roofs of some of GM facilities.
As part of today’s announcement, General Motors committed to double its solar energy output globally, from 30 MW to 60 MW, by the end of 2015.
The investment will create 310 jobs in the Southeast Michigan and Ontario, Canada.
Sunlogics will be the fifth company, beside Proterra Inc., Envia Systems, Bright Automotive and battery start-up Sakti3, funded by General Motors Ventures, a subsidiary the automaker created to invest in auto-related start-up companies.
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