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New Energy Capital invests US$12m in solar installer FLS

The New Energy Capital Cleantech Infrastructure Fund has invested US$12 million in commercial solar hot water system installer and solar photovoltaic (PV) integrator, FLS Energy Inc.

By Kari Williamson

FLS Energy, based in Asheville, North Carolina, designs, installs, and owns commercial solar PV and solar hot water systems in the south eastern USA.

“We have been looking for an investor who really understands the clean energy markets, not just solar electric but also solar hot water. New Energy Capital was the only investor we talked to that really understood our business,” says Michael Shore, CEO of FLS Energy.

New Energy Capital partnered on the investment with the CleanTech Alliance Fund, managed by North Sky Capital, of Minneapolis, MN.

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Photovoltaics (PV)  •  Solar electricity  •  Solar heating and cooling