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OS ANGELES, Feb. 8 PRNewswire/ -- Craton Equity Partners, a leading California clean technology fund, has made a $15 million investment commitment to Petra Solar, a clean energy technology company that provides solar and smart grid solutions for utilities. Petra Solar s core technology is the SunWave (TM) UP Series, solar panel systems primarily designed for use on utility and streetlight poles. [1]
The South Plainfield, N.J.-based company also said it plans to expand its product line to address new applications and market segments. We're still waiting for comment from Petra Solar, but we're thinking that those new applications and markets might have to do with commercial and residential customers. Also, the startup will use the funding to expand its applications for utilities, such as around smart grid, mounting systems and grid reliability. [2]
The South Plainfield, N.J.-based company also said it plans to expand its product line to address new applications and market segments. We're still waiting for comment from Petra Solar, but we're thinking that those new applications and markets might have to do with commercial and residential customers. Also, the startup will use the funding to expand its applications for utilities, such as around smart grid, mounting systems and grid reliability. [2]