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."
