SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

CHANNEL BY TOPICS


QUICK LINKS




GM Ventures Invests $7.5M in Solar Power Partner Sunlogics

Solar Power

Welcome to
Solar Power

Solar Power - Featured Article

July 28, 2011

GM Ventures Invests $7.5M in Solar Power Partner Sunlogics

By Cheryl Kaften
TMCnet Contributor

Share

General Motors (News - Alert) Ventures, LLC has made an equity investment of $7.5 million in Sunlogics PLC, a company in the Detroit metropolitan area that has created, engineered, built, and operated several major solar projects globally to date—including solar roofs for the GM plants in Zaragoza, Spain, and Cucamonga, California The new investment is expected to create 310 jobs.


Sunlogics  also was the vendor selected by General Motors in October 2010 to build solar photovoltaic canopies and electric vehicle charging stations for the company’s U.S. facilities, development centers, and Chevrolet dealerships. The renewable energy systems are called the Chevrolet Volt Green Zone.

Sunlogics will use some of the funding to establish its corporate headquarters and open a manufacturing facility near Detroit, and to set up a manufacturing facility in Ontario. The facility in Southeast Michigan will create 200 jobs and the Canadian facility will support 110 jobs.

“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,” said GM Ventures President Jon Lauckner. “And the Chevrolet solar charging canopy project complements our electrification strategy that started with the Chevrolet Volt by helping our cars live up to their fullest green potential.”

 Sunlogics PLC has a strategic relationship with Sunlogics Power Fund Management Inc. and with other entities to own and operate solar projects developed by Sunlogics PLC.

“The investment in Sunlogics allows GM to strategically partner with a leading solar developer and operator that can help GM drive the use of solar, specifically large-scale solar installations at our facilities,” Lauckner said. “Sunlogics was the ideal choice because it is a vertically integrated company that has a global footprint.”

According to Sunlogics CEO Michael Matvieshen, “GM’s solar expansion and financial commitment provides a firm foundation for the growth of Sunlogics’ business worldwide and will bring more sustainable green energy to GM operations.”

As part of the July 28 announcement, General Motors committed to double its solar energy output globally by the end of 2015.—to 60 megawatts (MW).

“Our GM facilities currently house 30 megawatts of solar power, and we are committing … to double that capacity to 60 megawatts over the next few years, which is equivalent to powering 10,000 homes annually,” said Mike Robinson, GM vice president of Energy, Environment & Safety Policy. “Not only does renewable energy make good business sense, it helps us continue to reduce the impact our facilities have on the environment.”

GM is the auto industry’s leading user of renewable energy. It has three of the largest automotive rooftop solar power installations in the United States and the world’s largest rooftop solar installation at its car assembly plant in Zaragoza, Spain. Additionally, GM has started construction on a new solar field at its Detroit-Hamtramck facility and completed construction on a solar array on top of its Baltimore Operations facility.

For more information, visit the General Motors Ventures LLC website.


Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.

Edited by Rich Steeves

View all Solar Power Articles >>>

Solar Power Related Articles









Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: [email protected].
Comments about this site: [email protected].

STAY CURRENT YOUR WAY

© 2024 Technology Marketing Corporation. All rights reserved | Privacy Policy