General Motors Ventures made its sixth investment last week, sinking $7.5 million into solar panel firm Sunlogics.
GM Ventures, the venture capital arm of General Motors, has invested $45 million into a variety of start-ups, mostly in cleantech and vehicle electrification firms, such as Ann Arbor-based Sakti3. The VC firm has $100 million to invest in its first year, and more investments are in the pipeline.
"I don't have a forecast for you, but this won't be the last one this year," says Jon Lauckner, president of
GM Ventures.
Sunlogics develops and manufactures solar panels. The Rochester Hills-based firm will provide solar-powered electric charging stations for 3,000 Chevrolet dealerships. The charging stations are specifically designed for the Chevrolet Volt, GM's electric car. Sunlogics plans to leverage the investment from GM Ventures to create its headquarters and manufacturing facility in Rochester Hills, a move that will create 200 jobs within the next year.
GM Ventures is focusing on investing in four different categories, including clean-tech, vehicle electrification, infotainment and supply chain. All of its investments have fallen into the clean-tech and vehicle electrification sectors so far.
Source: Jon Lauckner, president of GM Ventures
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at
SEMichiganStartup.com.
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