The facility is currently owned and operated by Phoenix Energy, and Cleantech can now earn in up to 40% of the project up from the original 25% it announced earlier.
The 40% ownership stake will be based on the total cost incurred to the project to date, and in addition, Cleantech can invest in the Series B shares of Phoenix equal to or greater to the direct investment made in 500kW project.
Cleantech Transit, which was founded to capitalize on technology advances and manufacturing opportunities in the clean energy public transportation sector, has expanded its focus to invest directly in specific green projects.
