Clear Skies Solar to Sell Stake in C612 Subsidiary

Nov 24 2009 | 8:44am ET

Clear Skies Solar, Inc. (CSS) will sell approximately one third of its wholly owned subsidiary C612 to a group of private investors.

C612 was formed last year to house the patented and patent pending technologies developed in-house by CSS.

The sale is expected to increase working capital available at CSS.

CEO Ezra Green said in a statement the sale would reduce the company’s monthly expenses by about 25%, allowing for increased flexibility to meet upcoming growth plans and permit C612 to support its own working capital needs. Green said the move will also facilitate Clear Skies’ move into the smart grid market.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of