Outland Renewable Energy's existing majority shareholder, Allco Renewable Energy, has agreed to invest an additional $8 million in Outland. The agreement also provides for an eventual further equity commitment of $22 million. The funds will provide the company with growth capital to execute its strategic plan.
Outland was founded in 2005 and received an initial investment from Allco in 2007. In addition to its majority ownership of Outland, Allco invests in and arranges financing for renewable energy projects.
SOURCE: Outland Renewable Energy