Metro Detroit's emerging venture capital community is starting to flex its muscle and create a number of jobs locally.
General Motors Ventures
, the venture capital arm of GM, has invested $7.5 million into Sunlogics so it can ramp up solar panel production, creating 200 new jobs in the next few months.
"It provides a firm foundation for our company to grow, not only in North America but on a world-wide basis," says Michael Matvieshen, CEO of Sunlogics
The Rochester Hills-based start-up currently employs 40 people and plans to revamp an industrial building into a solar panel factory. They facility will make solar-powered charging stations for the Chevrolet Volt, GM's new electric car. The charging stations will be placed at 3,000 automotive dealerships across the U.S.
"This investment will provide Sunlogics with the working capital to open a world headquarters and manufacturing facility here in Rochester Hills," says Jon Lauckner, president of GM Ventures
.Source: Jon Lauckner, president of General Motors VenturesWriter: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com