Jan 29 2011
Tegal and se2quel Partners have established a new firm, sequel Power, committed to the development and management of, large-scale photovoltaic-based utilities in the US, Africa, Middle East and Latin America.
For the last three years, se2quel Partners has been using a patent-pending innovative method to develop and manage photovoltaic-based utilities with a capacity of over 1 GW. At present, the company has more than 10 live projects with prominent collaborators in six countries.
sequel Power will take over se2quel Partners’ current projects with its patent-pending technology, technical expertise and associated infrastructure. For a majority voting interest, Tegal has given $2 million and has about 25% of economic stake in the new firm.
se2quel Partners’ Ferdinand Seemann, will serve as the Chief Executive Officer and President of the new firm, while its Executive Chairman will be Tegal’ President and Chief Executive Officer, Thomas Mika, se2quel Management’s founder Stephan Mohren, will head the European operations of the new firm under a management services contract with sequel Power.