Tuesday, May 7, 2013

DayStar buys Solar Projects to Gain More Access to California, India and Hawaii Markets

Shares of DayStar Technologies soared 40 percent higher following the solar company's announcement that it bought solar projects from Avatar Solar, in a cash and stock deal valued at $850,000.

The transaction valued DayStar's shares at $2 each. The company's stock rose 52 cents to finish at $1.81 on Tuesday.

Union City-based DayStar now can jump into solar energy projects in new markets where it was not previously located. DayStar manufactures solar energy panels based on thin-film technologies.

Over a 10-year period, Simi Valley-based Avatar has been active in developing solar energy projects in California, Hawaii and India.

"This transaction is representative of opportunities that we are evaluating," DayStar president Mark Roseborough said. "It marks the start of a new segment of business growth for DayStar."

Source: http://www.mercurynews.com/business/ci_21788193/daystar-buys-solar-projects-gain-more-access-california

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