Entech Solar, Inc. (OTC:ENSL) has announced that it has sold 150 of its shares of Series G Preferred stock to The Quercus Trust. The transaction was valued at $1.5 million in cash. Entech also issued a warrant for the purchase of 11,911,765 shares of its common stock. The stock was purchased at an exercise price of $0.17 per share by The Trust.
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Entech appointed Dr. Lawrence Kaufman to the position of Chairman of the company’s Audit Committee last month. Mr. Kaufman offers Entech his experience in technology based firms that serve the manufacturing industries. He holds a BA degree from Rensselaer Polytechnic Institute and a PhD degree in Physics from Tufts University.
Entech Solar, Inc. (Entech Solar), formerly WorldWater & Solar Technologies Corp. designs, manufactures and installs solar energy systems that provide electricity and thermal energy in commercial and industrial applications, as well as in the public sector. The Company focused on develop a new solar energy products and services utilizing the ENTECH concentrating photovoltaic (CPV) technology. The Company focused on offering a range of services, including project development, engineering, procurement and construction, and financing, to help develop and support the sales of its SolarVolt and ThermaVolt systems and other systems, and products it may develops. The Company’s products include SolarVolt and ThermaVolt solar systems, as well as a product designed from skylight. On January 28, 2008, the Company completed the acquisition of ENTECH, Inc. (ENTECH). On March 6, 2009, the Company discontinued the operations of its Mobile MaxPure division.
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