Direct Grid Technologies Secures Financing

Edgewood, N.Y.-based Direct Grid Technologies LLC, a manufacturer of photovoltaic micro-inverters and related monitoring systems, has secured $4.7 million in private equity financing.

The company says it will use the proceeds to launch manufacturing with the required capacity to meet secured purchase agreements with a variety of solar equipment manufacturers. The financing will speed up expansion into all major global markets as demand for this new class of micro-inverter accelerates, Direct Grid Techologies notes.

Product certifications will include UL1741/IEEE1547, VDE 0126, FCC Part15 Class B and CE. Direct Grid expects to commence product shipments to lead customers beginning this month.

SOURCE: Direct Grid Technologies

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