GreenRay Inc., a Massachusetts-based startup working to develop affordable solar energy for the residential market, announced this week that it has completed its Series A financing round. The $2 million investment will enable GreenRay to rapidly move ahead with manufacturing, distribution channel development, and commercial launch.
Founded in 2006, GreenRay develops solar AC modules with fewer parts and simplified installation which reduce the cost of generating renewable solar energy. At the heart of GreenRay’s AC Solar Module is a highly reliable patented micro-inverter paired with energy monitoring.
GreenRay was founded in 2006 by a team of former Schott Solar employees. Since then, GreenRay has received over $3.5 million in government-sponsored funding to demonstrate its AC Module concept, including grants from the Department of Energy and a SEED investment from the Massachusetts Renewable Energy Trust.
Read more at http://www.masshightech.com/stories/2009/07/13/daily21-GreenRay-lands-2M-for-affordable-solar-power-.html

