POSTED: 6:41 a.m. HST, Oct 16, 2012
LAST UPDATED: 11:34 a.m. HST, Oct 16, 2012
Union City, Calif.-based DayStar Technologies Inc. has purchased solar projects from Avatar Solar, another California company, that includes projects in Hawaii.
The $850,000 cash and equity deal prices DayStar’s common equity at $2 per share.
DayStar President Mark Roseborough called the acquisition the start of a new segment of growth for the company, while Avatar officials say the deal enables them to bring project pipelines to DayStar, including work that is ready for development in Hawaii, California and India.
Avatar specializes in providing solar energy systems through long-term power purchase agreements with utility companies.