NorSun Closes $8.6MM Raise, Plans 5GW US Solar Plant

• NorSun has raised 8.6 million dollars to fuel its growth projects in Europe and the US. Statkraft Ventures, Ardal Energi, Nysno Klimainvesteringer, and more, have subscribed to the capital. NorSun plans to build a 5GW production facility in the US and 3GW expansion in Årdal, Norway, funded in part by the EU Innovation Fund.

NorSun has raised 8.6 million dollars to finance its growth projects in Europe and the US. This capital is subscribed for by Statkraft Ventures, Ardal Energi, Nysno Klimainvesteringer, Scatec Innovation, ABN AMRO Sustainable Impact Fund, the company's management and some smaller shareholders. NorSun is currently working on plans to build a 5 GW production facility in the US and expand in Årdal, Norway. The EU Innovation Fund has awarded them 54 million euros for a 3 GW expansion.

What Plans Has NorSun For Expansion?

• NorSun plans to use the new funds to expand their production capacity through the development of a 5 GW facility in the US.
• The company will also expand their production facility in Årdal, Norway, with a 3 GW project, aided by a 54 million Euro grant from the European Union Innovation Fund.
• NorSun will also use the funds to invest in research and development of new technologies, as well as to increase their marketing and sales efforts.
• The company is also planning to expand its presence in the European market with several new projects.
• NorSun is also looking to expand its customer base and its presence in the North American market.
• The company plans to use the capital to create new jobs and develop their team.
• NorSun is also dedicated to developing partnerships with local companies to increase their production capacity.