Novato’s SPG Holdings secures $13 million in equity financing

Tuesday, June 30, 2009, 4:14 pm

By Jenna V. Loceff, Business Journal Staff Reporter

NOVATO – SPG Holdings LLC, holding company of SPG Solar Inc., announced the closing of a $13 million equity financing though the Global Environment Fund and Robeco.

The funds will be used to support growth nationally and internationally.

“The solar industry appears to be on the verge of its largest growth cycle,” said Thomas Rooney, chief executive officer of SPG Solar. “We want to capture that growth and expand SPG Holdings along with it. When we look back 10 years from now, we’ll likely see growth that will have eclipsed the advances of the last eight years. With a pro-solar administration in Washington and new markets emerging worldwide, the expansion opportunity for solar energy is favorable.”

Both the Global Environment Fund and Robeco make it a practice to invest in areas of clean technology and alternative investments.

The GEF, established in 1990, has roughly $1 billion in capital under management.

Robeco, founded in 1929 in Rotterdam, has roughly EUR 111 billion in assets under management.

The last few years have seen growth for SPG Holdings. The company is comprised of SPG Solar Inc. and Thompson Technologies Industries Inc. The company has more than 1,300 grid-connected photovoltaic systems in service throughout the United States.

Dan Thompson, founder and chairman of SPG Solar Inc. said, “This is a great opportunity for SPG Holdings. Both SPG Solar and Thompson Technologies now have the ability to do multiple large-scale projects.”