Namasté Solar plans expansion following $3.1 million raise

DENVER BUSINESS JOURNAL - Namasté Solar Inc. has raised $3.1 million from more than 91 investors, including two institutional funds, company co-founder Blake Jones said Tuesday.

The money raised by the Boulder-based solar-energy business — $3.1 million via an offering that closed in 2016 — is the second-biggest amount ever raised by an employee-owned cooperative in the country, Jones said.

(He said the largest amount was raised by Equal Exchange, “fair-trade” coffee importer cooperative in Massachusetts that raised $4.1 million in 2015.)

The money will be used as working capital to support Namasté’s expanding operations and also as a donation to a new clean energy credit union, he said.

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