Kuubix, an installer of residential and commercial solar systems, has entered an agreement with Solegreen Ltd., a publicly traded platform company that is engaged in the set-up, development, construction, management and operation of power-generation facilities using renewable energy.
Under the terms of the agreement, Solegreen is expected to invest up to $104 million in the company over the next two years in the form of equity and convertible loans. The investment will enable the company to continue its expansion of residential and commercial installation capacity in California, Texas, Nevada and Florida.
“Expansion into the U.S. market was one of our main objectives this year,” says Gal Bogin, chairman of Solegreen. “Kuubix’s track record for rapid growth and the strength of their management team make them uniquely positioned for continued growth and expansion and an ideal partner for Solegreen.”
On the residential solar side, substantial funding will be allocated to build a robust direct-to-consumer marketing operation. This will accelerate the growth of Kuubix’s dealerships by assisting with lead generation and appointment setting. Moreover, considerable focus will be placed on solutions for sales enablement and communication.
Photo: A recent Kuubix residential rooftop installation