General Motors Ventures Invests In Sunlogics

General Motors (GM) Ventures LLC has made an equity investment of $7.5 million in Sunlogics PLC, a vertically integrated solar energy systems provider.

Sunlogics says it will use some of the funding to establish its corporate headquarters and open a manufacturing facility in Detroit, as well as to create a manufacturing facility in Ontario.

GM also has signed commercial agreements with Sunlogics for the installation of solar charging canopies at Chevrolet dealerships and GM facilities and a power purchase agreement to install large-scale solar arrays at GM facilities.

‘Global solar energy use is predicted to more than double by 2016, so we believe that investing in renewable energy is a smart and strategic business decision,’ says Jon Lauckner, president of GM Ventures.

GM notes it is committed to doubling its solar energy output globally by the end of 2015.


Please enter your comment!
Please enter your name here