Joint Press Release
What’s New Under the Sun…
San Diego, California, September 09, 2008
Pyron Solar Inc., a developer of patented solar and optic technologies that vastly improve the efficiency of solar systems, announced today the second closure of a Series A equity financing with New Energies Invest Ltd. in Switzerland (NEI). Doug Carriger, the CEO of Pyron Solar said, “We are pleased with the follow-on investment from NEI as this round helps us continue to fund a full scale demonstration of Pyron’s advanced technology in San Diego. The project represents an important milestone in the industry, because efficiency still matters. Our products will be shown to provide a greater return on investment than utility scale solar projects featuring low cost low efficiency technologies.”
Pyron Solar Inc. is an engineering and manufacturing company headquartered in San Diego, California. The company has developed and patented a revolutionary design for utility scale solar electricity generators. The company’s patented technologies result in a low cost highly efficient modular concentrating photovoltaic system.
New Energies Invest Ltd is a private equity financing company that focuses on companies in the renewable energy industry - mainly solar, wind and biomass opportunities. The fund was initiated by the Bank Sarasin & Co in the year 2000 and is managed by Remaco Merger Ltd. in Basel, Switzerland.
Remaco Merger Ltd is a Swiss, bank-independent, M&A company (www.remaco.com) that has provided transaction services to mid-market enterprises for over 35 years. Remaco Merger Ltd is the Corporate Finance division of the International Trust Group in Basel.
Bank Sarasin & Co. Ltd, founded in 1841, is today one of Switzerland's leading private banking institutions. Its sustainable success is based on trust, confidentiality, expertise and dedication. Bank Sarasin's core activities include investment advisory and asset management services for private and institutional clients, as well as an investment funds business. Its complementary services extend to corporate finance and financial analysis.
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