General Motors Ventures, a subsidiary that automaker General Motors (GM) created to explore technology advancement opportunities, recently announced an equity investment in Sunlogics – a company that develops and installs solar energy systems – which will generate 310 jobs in the United States and Canada.
Some of the $7.5 million equity investment announced on July 28, 2011, will go to developing a corporate headquarters for Sunlogics as well as manufacturing facilities in both Ontario, Canada, and in Detroit, Michigan. The Sunlogics Detroit facility will provide 200 job opportunities, while the Canada site will create 110 employment positions in the solar energy industry.
“The partnership provides a new level of opportunity to the larger scale industrial solar projects Sunlogics designs, manufacturers and constructs,” said Michael Matvieshen, CEO of Sunlogics. “We are looking forward to further assisting our customers in reducing their carbon footprint with sustainable renewable energy.”
General Motors strives to increase solar energy generation in next five years
General Motors Ventures during its recent announcement promised to try doubling its solar energy production worldwide by the end of 2015 – from 30 megawatts of solar energy to 60 megawatts. That’s enough to provide 10,000 houses each year.
Sunlogics and General Motors Ventures additionally signed agreements to install solar charging canopies at General Motors facilities and Chevrolet dealerships along with big solar arrays at General Motors facilities.
“Global solar energy use is predicted to more than double by 2016, so we believe that investing in renewable energy is a smart and strategic business decision,” said Jon Lauckner, president of General Motors Ventures. “And the Chevrolet solar charging canopy project complements our electrification strategy that started with the Chevrolet Volt by helping our cars live up to their fullest green potential.”