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,
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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