Terawatt Announces Investment from Sorenson Capital
SALT LAKE CITY, Feb. 28, 2013 /PRNewswire/ -- Terawatt, Inc. today announced a significant initial investment from Sorenson Capital Partners. The funding will enable Terawatt to hire key talent, build a robust back-office platform, and become a leader in the U.S. residential solar market.
"The United States has the potential to become a world leader in solar energy," said Richard Keiser, Terawatt's co-founder and CEO. "Terawatt is committed to bringing clean, affordable solar energy to all Americans. We are excited to have a world class partner like Sorenson Capital to help us achieve this goal."
"We believe Terawatt has a compelling vision for penetrating the U.S. residential solar market," said Ron Mika, co-founder and Managing Director of Sorenson Capital. "We are fully committed to supporting Terawatt to help ensure their success, and are confident that our investment and partnership with the team will accelerate the company's execution of their vision."
"Terawatt is the future of residential solar," said Tyson Peschke, Terawatt's co-founder and COO. "We started from the ground up to provide the best possible customer experience. Great companies are built with great people, and Terawatt is the type of company where high performers are welcomed and rewarded."
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity fund that makes small- to middle-market buyout and growth equity investments. Sorenson Capital has $650 million in capital under management and typically makes investments of $10 to $25 million in companies with unique strategic positions. Sorenson Capital is managed and controlled by West Rim Capital and is based in Salt Lake City, Utah.
About Terawatt, Inc.
Terawatt is the vision of Richard Keiser and Tyson Peschke. Terawatt has combined Richard's expertise in solar economics with Tyson's expertise in solar operations to create a world-class residential solar business. Our goal is to make it easy for all Americans to join the clean energy future. For more information visit: www.terawatt-solar.com
SOURCE Terawatt, Inc.