In the world of corporate finance, I learned a lot with the ICP Solar reverse takeover of a public shell. This ones feels very different. The relationship between Sunlogics Inc. and General Motors goes way far before Sunlogics own genesis. The rollout of solar canopies for GM’s Volt car will surely accelerate through 2011, at a pace which is manageable and affordable. And with a strong branded customer, a team which has proven it can deliver and the funding behind the organization which will permit the deliveries to occur. Its all about execution…
Meantime, today we announced the first sale of a General Motors solar system to the Sunlogics Power Fund, soon to be division of Salamon Group. For those who don’t understand the distinction, Sunlogics Inc. will build and resell the solar canopies to Sunlogics Power Fund which will then benefit from recurring revenues for 20 years (or more). I don’t know at this point if all Sunlogics Inc. solar canopies or arrays will be sold to Sunlogics Power Fund, yet its a sure bet that both organizations are well positioned to take advantage of the ever-increasing desire by automotive manufacturers to “go green”.