Thursday, August 23, 2012

Solar Power Technologies Merges With Draker, Raises $8M

Austin-based Solar Power Technologies, a developer of systems used for utility-scale, photovoltaic monitoring, has merged with competitor Draker Energy. Financial terms of the merger were not announced. As part of the deal, the two said that they have raised $8M in an equity funding, led by Austin Ventures, and also including Harbor Light Capital Partners and other investors in the two companies. The two said they will operate under the Draker name, and will continue its operations in Texas, Vermont, California and New Jersey. The new, combined firm will provide performance management solutions for commercial and utility-scale solar. More information »