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China's ET Solar Raises $19 Million Series A Funding
April 10, 2008Source: Clean Edge News
ET Solar Group Corp., a Nanjing-based integrated manufacturer of
photovoltaic products including ingot, wafer, module, and state-of-
the-art dual-axis tracking systems with manufacturing facilities
located in Taizhou, China, recently announced the completion of a
US$19 million private equity placement transaction.
The Series A redeemable convertible preferred share placement was
led by Tsing Capital / China Environment Fund, a highly experienced
institutional investor dedicated to cleantech investment in China,
and joined by another prominent institutional investor.
Commenting on the news, Xinghua Wang, chairman of ET Solar,
said, "As a vertically integrated solar company that focuses on
downstream part of the value chain, ET Solar is well positioned to
capture the exponential growth of the solar industry and represents
a very attractive investment opportunity to the investors."