Clear Skies Solar to Sell Stake in C612 Subsidiary
CleanTech Brief
Clear Skies Solar, Inc. (CSS) will sell approximately one third ofits wholly owned subsidiary C612 to a group of private investors.
C612 was formed last year to house the patented and patent pending technologies developed in-house by CSS.
The sale is expected to increase working capital available at CSS.
CEO Ezra Green said in a statement the sale would reduce thecompany’s monthly expenses by about 25%, allowing for increasedflexibility to meet upcoming growth plans and permit C612 to supportits own working capital needs. Green said the move will also facilitateClear Skies’ move into the smart grid market.
