Solar Power Developer to Invest Millions and Create New Jobs
Rochester Hills, MI- General Motors Ventures LLC announced today an equity investment of $7.5 million in Sunlogics PLC, a vertically-integrated global solar energy systems provider specializing in solar project development and installation. The investment will create 310 jobs and an economic impact locally of nearly $90 million. GM also signed commercial agreements with Sunlogics for the installation of solar charging canopies at Chevrolet dealerships and GM facilities, as a purchase agreement to install large-scale solar arrays at GM facilities.
Sunlogics will use the funding to establish its corporate headquarters and manufacturing facility in Rochester Hills, as well as another facility in Ontario, creating 200 and 110 green manufacturing jobs, respectfully. Sunlogic’s employees will design, build and operate solar power generating systems for global customers.
“Our economic development strategy focuses on the attraction of innovative and alternative energy companies,” states Mayor Bryan Barnett. “To have a partnership of this magnitude between GM Ventures and Sunlogics in Rochester Hills, will not only infuse our community with new jobs, but will significantly impact the growth of the alternative energy industry.”
Sunlogics management has experience developing and operating innovative solar commercial installations in Canada, United States, and Europe. Sunlogics PLC has a strategic relationship with Sunlogics Power Fund Management Inc. and with other entities to own and operate solar projects developed by Sunlogics PLC.
“The investment in Sunlogics allows GM to strategically partner with a leading solar developer and operator that can help GM drive the use of solar, specifically large-scale solar installations at our facilities,” Lauckner said. “Sunlogics was the ideal choice because it is a vertically integrated company that has a global footprint.”
“The partnership provides a new level of opportunity to the larger scale industrial solar projects Sunlogics designs, manufactures and constructs,” Michael Matvieshen, CEO Sunlogics. “We are looking forward to further assisting our customers in reducing their carbon footprint with sustainable renewable energy.”
About General Motors Ventures
General Motors Ventures, LLC, is a subsidiary designed to help the company identify and develop innovative technologies in the automotive/transportation sector GM Ventures has been funded with an initial investment of $100 million, and is exploring equity investments in a number of auto-related technologies and business models.
About Sunlogics
Sunlogics PLC is a vertically-integrated global solar energy systems provider specializing in solar project development and installation. Sunlogics has a strategic partnership with Sunlogics Power Management Fund Inc (SLMU:US) and with other entities for the purpose of owning and operating solar projects developed by Sunlogics PLC. The scope of the company’s current projects and operations reach to the nations of the world including Canada, United States, Europe and China. More information can be found at www.sunlogics.com.
Established in 1984, the City of Rochester Hills is a prosperous community offering residents and businesses superior services. Voted one of the top places to live by several sources including CNN Money magazine and RelocateAmerica.com, Rochester Hills is committed to sustaining its position among the nation’s preeminent places to live, work and raise a family. Through the city’s focus on health, education and technology, the community continues to attract forward-thinking leaders and businesses.
About Tom and Ann Gendich