Principal Solar, Inc. Announces Acquisition of Capstone SolarJune 05, 2011 by Jeff Shepard
Principal Solar, Inc., a publicly traded renewable energy holding company rapidly advancing the worldwide utilization of solar power through a roll-up strategy, announced on the acquisition of Capstone Solar, a news and networking community for solar professionals. Terms were not disclosed.
"It’s extremely rare to find a group of people as committed to the advancement of solar power as the PSI team, and the ease of this transaction was impressive," said Dan Bedell, co-founder of Capstone. "As a publicly traded company, PSI has the financial resources and significant industry contacts to rapidly bring its vision to fruition."
Rick Borry, co-founder of Capstone and Chief Technology Officer at PSI, adds, "We look forward to combining Capstone’s interactive web conferences and dynamic communities with the existing resource base of PSI’s Definitive Solar Library – an online library that is under development and dedicated exclusively to the solar industry."
The Capstone Solar acquisition advances the business roll-up platform of PSI and sets in motion an aggressive first-for-the-industry strategy.
Michael Gorton, Chief Executive Officer and chairman of PSI, stated, "Given the favorable and competitive cost of photovoltaics, we have complete confidence that our model will be a unifying force for making solar energy available around the world, preserving natural resources, and protecting future generations."
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