United States household solar installer Kuubix bags US$ 104m financing to seek 'hostile' growth

Apr 15, 2021 06:49 PM ET
  • Israeli developer Solegreen has actually invested US$ 104 million in solar installer Kuubix to aid it seek an "hostile" growth approach across its core markets in the US.
United States household solar installer Kuubix bags US$ 104m financing to seek 'hostile' growth
Image: Kuubix

As part of the deal, Solegreen will buy Kuubix over the next two years to fund the growth of its domestic as well as business setup capability in California, Texas, Nevada and also Florida this year, prior to a national expansion in 2022.

Kuubix stated in a declaration that "considerable financing" would be made use of to produce a "durable" direct-to-consumer marketing business dealing with appointments and lead generation.

Josh Butt, Kuubix's ceo, claimed the financial investment from Solegreen will certainly make it possible for the installer to "go deep with chosen dealerships to help them grow in all our markets ... then nationwide in 2022".

A number of solar companies in the United States have actually increase their property services in the past couple of months to capitalise on the field's rapid growth. United States domestic solar installations rose by 11% year-on-year in 2020 to get to 3.1 GW, according to a joint report from the Solar Energy Industries Alliance and analyst Timber Mackenzie, in a market that is led by noted business Sunrun, Sunnova, SunPower, Tesla and also Vivint Solar.

Gal Bogin, Solegreen's chairman, stated that a person of the Israeli programmer's "primary objectives" this year is broadening into the United States.

Kuubix, established in 2016, is not the only United States domestic installer getting favour with investors this year. Independent power manufacturer Soltage has actually struck a manage financial investment supervisor Harrison Street to invest US$ 250 million on 450MW worth of solar and energy storage space projects nationwide.

Much more lately, solar and also storage carrier Sunworks got installer Solcius in an offer worth US$ 51.8 million in a quote to become a "national leader" out there throughout 12 states.

Solar Installers, Manufacturers