SES Solar Inc. (SESI.OB), a Switzerland-based developer of cost-effective, high productivity solar panels and solar roof tiles, has concluded a private placement of US$3.7 million for 4,100,001 common shares of the company at USD 0.90 per share. Proceeds will be used to build its new state-of-the-art solar panel manufacturing facility in Geneva. “We are very pleased with the confidence investors are showing in SES Solar,” said Jean-Christophe Hadorn, president and CEO. “We are in advanced negotiations for obtaining the balance of the construction financing, and believe we will conclude those discussions soon.”
SES Solar’s current business plan includes the development of new assembly lines based on its patented methodology which allows for low cost production of technologically advanced solar panels and solar roof tiles in Europe.
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