Solar Power Inc. has hired CleanTech IR, an investor relations company to improve communication with shareholders and increase its reach with the investment community.
The announcement comes two days after Solar Power — the fastest-growing company in the Sacramento region in 2008, according to Business Journal research — entered into an agreement with institutional and accredited investors to raise $12 million through a private placement of stock. The Roseville-based company plans to use the money for “general corporate purposes, including working capital,” Solar Power chief executive officer Steve Kircher said in a news release.
Solar Power (OTCBB: SOPW) is a manufacturer, supplier and installer of photovoltaic solar power systems.
“With the current rate of growth in the renewable energy industry, this is the right time for us to generate broader visibility in the investment community and among financial media,” Kircher said in a news release Friday. “Our immediate goals are to increase our company’s trading liquidity and valuation.”
Shares of Solar Power remained unchanged at $1.20 in midday trading Friday. The company’s stock has been at a one-year low of 41 cents, with a one-year high of $1.90 — and was last above $2 on March 6, 2008.
Los Angeles-based Clean Tech IR is a full-service investor relations firm that focuses on clean technology companies, from electric vehicles to solar-panel manufacturers.