Sustainable Energy catches $7.6M for solar inverters

Sustainable Energy Technologies, provider of solar inverters, has brought in $7.6 million in private placement capital to take its newest product to market in Europe and North America. Based in Calgary, Canada, the company says this new model, called the SUNERGY II, converts sunlight to grid-ready electricity much more efficiently than other inverters used with parallel solar arrays.

Doughty Hanson led the recent round of funding with $4.5 million and will have the option to add $1.5 million more in the next six months depending on Sustainable’s performance. On top of this, the company says it expects to raise $1.3 million more by the end of this week. None of the other investors were disclosed.

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