Transaction

A pool of private investors has acquired a minority stake in protarget AG. Along with this equity participation the company has signed a convertible loan agreement with a family-owned industrial group. The funds will be used to finance the instalment of a component test power plant. This so-called “test loop” represents the ultimate pre-conditional milestone for commencing the envisaged international serial production.

Company

protarget AG is a turn-key solar thermal power plant supplier and provides solar power systems for applications such as industrial parks, textile and food industry, agriculture and mining, hotels and remote settlements. Power plant systems range from 1 to 8 MW for decentralized and independent energy supply in the commercial segment. protarget was founded in November 2009 and has in the meantime already provided the proof of concept next to the completion of the initial prototyping phase. After successful implementation of the fully financed component test plant serial solar power plant production shall start in 2012.

For additional information on protarget AG:
www.protarget-ag.de