Innotech Solar (ITS) has today announced the successful conclusion of two key transactions, one an acquisition and one an investment which will further strengthen ITS´s balance sheet and enable further expansion. In addition the company has announced three new board members.
Through the acquisition ITS will strengthen its cash position as well as providing reliable operating revenues from the two PV plants. The company is also pleased to announce that Mr. Geir Førre has increased his investment in Innotech Solar through his Firda Investments company and has accepted to join the ITS Board of Directors. Also joining the Board of Directors are Mr. Klas Gustafsson and Ms. Tove Langlet and Board Member of several Nordic companies.
Commenting on the acquisition, investment and new board members Jerry Stokes, CEO of Innotech Solar, said “During a challenging time for the PV industry we are especially pleased to have been able to make the acquisition of Tripod, bring in new investment and further strengthen our Board of Directors. This is a clear demonstration that Innotech Solar has been able to establish a strong and scalable business which with the benefit of the investment and strengthened balance sheet will enable us to significantly grow our business.”