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Following energy issues in the state of Connecticut and beyond.

Thursday, July 22, 2010

Opel International Raises $7.55 million


OPEL International, which makes solar energy equipment, has completed a securities sale that brought in $7.54 million, company officials announced Thursday.

The company will use the money to increase its inventories and make infrastructure improvements that will help to meet the growing demand for OPEL International's photovoltaic solar panels and other equipment it makes that is used to produce energy from the sun's rays.

The Shelton-based company had said in June that it had hired a Toronto-based investment bank, IBK Capital to oversee the stock offering. OPEL International officials said at the time that they chose IBK Capital to serve as the lead investment bank for the offering because William White, president of the financial institution, has a long standing relationship with the company.

White raised $19 million in early funding for OPEL International between Dec. 2005 and Dec. 2007.
For more information on this story, see Saturday's New Haven Register or go to www.newhavenregister.com

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