Morgan Solar Secures US$9.8m Investment from Enbridge
This investment from Enbridge, a North American leader in oil and natural gas delivery, which is building a portfolio of renewable energy generation assets, brings the total amount raised by the company in Series B round to USD$28.8m.
Founded in 2007 by President John Paul Morgan, Morgan Solar manufactures the Sun Simba™, a rapidly deployed solar energy generation solution, which is fully integrated with its lightweight, self-ballasted Savanna™ tracker, and scaled from 10-kilowatt to multi-megawatt installations.
According to the company, the Sun Simba’s patented Light-guide Solar Optic enables an ultra low-profile, lightweight Concentrated Photovoltaic system that is less expensive to build, ship, deploy, and maintain than competing technologies.
Morgan Solar intends to use the funding to expand the manufacturing capacity for the Sun Simba™, to invest in sales development, and to continue to develop and expand its portfolio of solar technologies.
26/05/2011: Morgan Solar Raises $16.5M First Tranche of Series B Funding
06/01/2010: Canada, Morgan Solar Raises $8.2M in First Investment Round
12/10/2009: Toronto-Based Morgan Solar Raises $4.7M