Applied Solar, Inc. (OTCBB:APSO) has closed the sale of their assets and operations to Quercus APSO, LLC, a wholly-owned subsidiary of The Quercus Trust. Following the combination of the businesses Quercus APSO will change their name and conduct business as Applied Solar, LLC. With the close of the transaction, Applied Solar will have a much stronger balance sheet and little or no long-term debt.
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Applied Solar, Inc., formerly Open Energy Corporation is a renewable energy company focused on the development and commercialization of a portfolio of solar technologies for residential, commercial and industrial applications. The Company develops solar energy solutions, solar products and energy management applications. EcoTouch Energy Management System is the product manufactured by the Company. The Company designs, manufactures and distributes building-integrated photovoltaic (BIPV) roofing tiles, roofing membranes and architectural photovoltaic (PV) glass products under the SolarSave trade name.
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