TSG Equity Partners, Stow, Mass., has placed a private investment in SolarOne Solutions, a Framingham, Mass.-based provider of solar systems for commercial applications.
The financing represents TSG's first investment in the Clean Tech space, the company says. SolarOne will use the funds to accelerate the commercialization of its photovoltaic (PV) and LED technology while supporting development activities.
‘We moved to Massachusetts [in 2004] because we believed it had many of the right ingredients to make us successful, including access to capital,’ says Moneer Azzam, SolarOne's president. ‘Having a partner like TSG, whose principals also have expertise in the lighting industry, branding and manufacturing, is a significant bonus for SolarOne and greatly enhances our resources.’