Sunlogics parlays $7.5M investment into 200 jobs
September 1, 2011
Metro Detroit’s emerging venture capital community is starting to flex its muscle and create a number of jobs locally. General Motors Ventures, the venture capital arm of GM, has invested $7.5 million into Sunlogics so it can ramp up solar panel production, creating 200 new jobs in the next few months.
“It provides a firm foundation for our company to grow, not only in North America but on a world-wide basis,” says Michael Matvieshen, CEO of Sunlogics.
The Rochester Hills-based start-up currently employs 40 people and plans to revamp an industrial building into a solar panel factory. They facility will make solar-powered charging stations for the Chevrolet Volt, GM’s new electric car. The charging stations will be placed at 3,000 automotive dealerships across the U.S.