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greenvolts

Solar start-up GreenVolts replaces CEO, shifts plan

California solar start-up GreenVolts has named an interim CEO and decided to pursue a different strategy to adapt to changing business conditions.

The four-year-old company said Tuesday that founder Bob Cart is now chairman of the board and that chief financial officer Gary Beasley will be president and CEO on an interim basis.

In addition, GreenVolts has reorganized its business to focus on designing and selling its concentrating-solar equipment, rather than building solar power plants itself--a decision that other solar start-ups have also made.

The new business plan involved layoffs earlier this year, part of a "larger strategic realignment … Read more

GreenVolts, which builds urban solar power plants, gets $10 million

GreenVolts, which is commercializing technology from the national labs to better concentrate sunlight, has received $10 million in funding.

The company, based out of San Francisco, has a concentrating system for photovoltaic panels that effectively lets its put the power of 625 suns onto a solar panel. The high concentration levels thus allow it to shrink the real estate required for a single power plant. As a result, the power plants can be built closer to the consumers--i.e. people living in the city or suburbs--which in turn cuts down the cost of transmission lines.

Several other companies are working … Read more