SLMU’s share will own a 90% stake in Eco Energy, an Australia based renewable energy developer.
The acquisition will see DayStar’s entry into energy project solutions business in the fields of engineering, construction, and ownership of solar power generation projects.
DayStar chairman and interim CEO Peter Lacey, "We are extremely excited to announce the investment in Eco Energy Solutions. This transaction represents a critical step in the new strategic direction of DayStar."
Developer of photovoltaic products based on CIGS thin film deposition technology, DayStar will now gain a foothold in the Australian and South Pacific renewable energy markets.
Salamon Group through its Sunlogics Power Fund Management Inc. division, is a solar energy project company.
