Friday, January 26, 2018

MERIT SI Gets Funding From Ted Turner For Renewables Development

Austin-based MERIT SI a developer of solar, energy storage, and other related infrastructure which also has offices in Houston, has received an investment from media mogul Ted Turner, via his investment company, Turner Renewable Energy. Financial details of the investment were not announced. MERIT SI said Turner Renewable Energy takes a "significant" minority stake in the company. MERIT SI is led by Tom Kuster and Richard Gruber, and says it focuses on solar photovoltaic power systems, energy storage and power plant optimization controls. Turner Renewable Energy is owned by media mogul Ted Turner, via Turner Enterprises Inc., which says it also manages Turner's other investments, over 2 million acres of land, and a giant herd of 51,000 bison.