UK solar firm mO3 power closes 2nd investment round - Photovoltaics World
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UK solar firm mO3 power closes 2nd investment round

(November 24, 2010) -- mO3 Power Limited, a UK-based solar PV park developer and independent power producer, has within the last few days closed a second investment round, which included a substantial investment from Tom Singh, one of the most successful entrepreneurs in the UK.

Tom Singh and the Family Trusts set up for the benefit of members of his family have interests in a broad range of sectors including retail, real estate and the renewable energy sectors but have increasingly focused on sustainable investment opportunities and the renewable energy and technology sector in particular.

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Commenting on the new investment, Mr Singh said, "mO3 have a compelling business case, and will, I am sure, be the volume player in the UK solar PV market. The company has put together a winning combination of suppliers and banks to deliver on its significant pipeline of sites. Its management team is as mature and capable as any that I have seen."

Commenting on Tom Singh appointment as a non-Executive Director of mO3 Power, John Moreton, Chairman of mO3 Power said, "This is one of the very few occasions where Tom Singh has joined the Board of a company and demonstrates Tom’s enthusiasm for the mO3 business plan and the solar PV sector generally."

Ken Moss, CEO of mO3 Power added, "Tom has demonstrated a clear and deep understanding of the solar PV sector and the importance of increasing electricity generation from renewable resources. I’m sure this investment and board appointment will be widely seen as a huge vote of confidence in both the sector and mO3 itself.

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