30 Jul '13, 11pm

SunEdison Buys Khosla-Funded EchoFirst For PV and Hot Water: SunEdison

SunEdison Buys Khosla-Funded EchoFirst For PV and Hot Water: SunEdison

SunEdison has promised that when it gets deeper into residential solar financing, it's going to do things a bit differently. How about financing solar electricity and solar hot water for residential customers? SunEdison will do that through its acquisition of Khosla Ventures -funded EchoFirst (the former PVT Solar). The price was not disclosed. SunEdison did not comment on the acquisition and its communications people seemed surprised by the news. Multiple sources close to the company have confirmed that the deal closed last week. EchoFirst has not responded. The company's technology promises solar power, energy storage, and quicker payback. In 2010, EchoFirst raised a $13.7 million round B and named Vikas Desai CEO of the hybrid electric solar and solar hot water firm. Desai was previously VP and general manager of SunPower’s residential and light commercial business unit...

Full article: http://www.greentechmedia.com/articles/read/SunEdison-Buy...

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