TVP Solar Closes CHF 5.9 Million in Capital Increase to Enter Manufacturing Stage

09.02.2015 16:44

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TVP Solar SA, a game-changer in solar thermal, has completed a further CHF 5.9 million equity injection as an extension to the Round B of financing (totaling CHF 19M).

“The use of proceeds from this tranche of financing is to strengthen TVP manufacturing and support marketing demand we have generated over the last year,” announced Piero Abbate, CEO of TVP Solar.

The entire financing has been subscribed by TVP’s existing value-added Kuwaiti shareholder. This additional capital increase solidifies TVP Solar’s focus in the MENA and Gulf regions.

TVP Solar SA is a Swiss company which designs, develops, manufactures and markets innovative high-vacuum flat solar thermal panels based on patented technology. TVP Solar is a game-changer in the solar thermal industry, effectively competing with electricity in the cooling and industrial process heat markets, while introducing new thermal energy-producing roofs for the residential market. TVP Solar was incorporated in 2008 and is based in Geneva.

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