Xantrex IPO Could Prove Tech Sector Boost

February 25, 2004 [SolarAccess.com] The possibility of solar photovoltaic (PV) inverter company Xantrex going public could prove a welcome boom to British Columbia’s tech sector, according to the Canada’s Globe and Mail newspaper. In an effort to expand the company’s global reach and to fund research Xantrex is expected to raise approximately CAD$67 million (US$50.4 million). Brent Holliday, a former Xantrex director now a partner with Greenstone Venture Partners Inc., a Vancouver-based venture capital firm, told Peter Kennedy of the Globe and Mail that a successful offering, “…would put Xantrex in the same category as such other B.C.-based tech firms as MDA, Creo Inc. and Sierra Wireless Inc. which have market caps of between $500-million and $1-billion.” This type of financial strength could increase the company’s market presence in the highly competitive PV inverter market. Read the full article at the link below.
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