Solar installer, Akeena, raises $4.1M in PIPE
Akeena Solar, a Los Gatos, Calif. installer of solar power systems, said it raised about $4.1 million from a private investment.
The cash is to help it keep up with new competitors such as SolarCity, and comes at a time when the solar sector is growing rapidly.
Akeena is already public, and so the private investment is called a PIPE (Private Investment in a Public Entity).
The Westly Group, run by former state controller Steve Westly, also invested.
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