Westinghouse Solar, a designer and manufacturer of solar power systems, announced that it has received an equity investment from CBD Energy Limited, a diversified renewable energy company based in Sydney, Australia.
In addition to the investment, the companies have agreed to explore a broader strategic relationship.
Under the terms of the investment, Westinghouse Solar issued common stock at a price of $0.60 per share for gross proceeds of $1,000,000. Westinghouse Solar will use the additional working capital from the investment to help fund the company’s continued growth in the US market.
Further information on the investment is available in the company’s 8-K filed today with the Securities and Exchange Commission.
Chardan Capital Markets acted as financial advisor to CBD and Cantor Fitzgerald acted as financial advisor to Westinghouse Solar.