LEHI, Utah, July 17, 2024 (GLOBE NEWSWIRE) -- Complete Solar, Inc. ("Complete Solar" or the "Company." Nasdaq: CSLR), a solar technology, services, and installation company, today announced that StarCharge – a leading unicorn in Asia's digital energy sector that provides one-stop solutions for charging stations, microgrids, Virtual Power Plants (VPPs), and power trading – has made a $10 million investment in the convertible debenture previously announced by Complete Solar on June 17, 2024. Edward Zeng, foun ...

Company Overview - Complete Solar, Inc. has acquired selected assets of Core Energy, a solar EPC firm, and hired its 37 employees, including CEO Cole Farmer, who will oversee Sales and Marketing for the combined company [1][5] - The acquisition will result in a modest increase in Complete Solar's headcount from 106 to 113 due to tight cost management and merit-based retention [1] Financial Performance - Cole Farmer previously grew Core Energy's revenue to $143 million (unaudited) during the 2022 solar boom, but it has since dropped to an annualized revenue of $22 million due to a downturn caused by changes to California's Net Energy Metering (NEM 3.0), which reduced payments for home solar power delivered to the grid by 75% [5] Strategic Goals - Complete Solar aims to leverage Cole Farmer's sales and marketing expertise to accelerate growth and increase installation rates in California, the largest solar market in the U.S. [6] - The company offers a unique end-to-end customer service model that includes financing, project fulfillment, and customer service, facilitated by a digital platform and premium solar products [6] Employee Engagement - All new Core Energy employees have received public company stock options, promoting a company-oriented culture similar to that of Silicon Valley, which emphasizes wealth sharing with employees [9]

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Complete Solaria (NASDAQ:CSLR) stock is rocketing higher on Monday after the solar solutions company announced the elimination of some of its debt. Complete Solaria notes that it has canceled $67.6 million in debt from private equity firms Carlyle and Kline Hill Partners. The company did so with a $10 million cash payment to Carlyle and an $8 million cash payment to Kline Hill Partners. Complete Solaria notes that this debt cancelation was fueled by company CEO T.J. Rodgers. He purchased $18 million in conv ...

LEHI, Utah, July 01, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (Nasdaq: CSLR), a leading solar technology, services, and installation company, today announced that it had cancelled $67.6 million in debt from its balance sheet and been released from its obligations under that debt by its two private equity (PE) providers, Carlyle and Kline Hill Partners. Rodgers concluded, "I would like to thank Andrew Kapp of Carlyle and Rick Orlando and CEO Mike Bego of Kline Hil ...

On May 15, 2024, the Company announced that it had signed an agreement with Carlyle to set aside all of its financial claims in return for $10 million in cash. Today, we announce an equivalent deal with Kline Hill Partners for $8 million. Complete Solaria CEO, T.J. Rodgers concluded, "The reason for this press release is to announce that Complete Solaria is free of all of its prior private equity debt obligations, and that we have eliminated $67.6 million of long-term debt from our balance sheet." About Com ...

Standard Rule 144A terms. The notes will be convertible at the option of the holder, into common stock of CSLR and will contain all general customary investor protections found within Rule 144A convertible securities. Cantor Fitzgerald & Co. served as Sole Financial Advisor to Complete Solaria and Cooley LLP acted as legal counsel to the Company in connection with the transaction, whose terms are summarized below: Soft calls: $3.00 July 2027; $2.60 July 2028. The Company may not redeem the notes prior to Ju ...

Rodgers said, "We needed an experienced, business savvy, high-tech CFO to seed our headquarters finance group in Lehi, Utah, a suburb of Salt Lake City, the center of Utah's "Solar Valley," which has 21 solar companies. Dan Foley is our man. He received his MBA from the University of Southern California Marshall School of Business and his BS in Economics from the University of Utah. He also has the broad financial experience we need – over 25 years covering every critical function: Financial Planning & Anal ...

Aaron assumes the role of VP U.S. Operations, and will run the Company's main office in Salt Lake City, the center of America's "Solar Valley" from which many of America's solar companies operate. Complete Solaria CEO, T.J. Rodgers said, "Convincing Aaron to join our team is a big next step in our transformation. Silicon Valley taught me that hiring the best people is essential for success. And this rule of success now transfers to Aaron, who well understands this challenge and states on his resume that in ...

● the relative pricing of other conventional and non-renewable energy sources, such as natural gas, coal, oil and other fossil fuels, wind, utility-scale solar, nuclear, geothermal and biomass; ● performance, reliability and availability of energy generated by solar energy systems compared to conventional and other non-solar renewable energy sources; ● availability and performance of energy storage technology, the ability to implement such technology for use in conjunction with solar energy systems and the ...