PVT Solar made dual announcements, publicizing that it had not only closed its series B financing round at US$13.7 million, but that it had also hired Vikas Desai as its new CEO. Desai hails from SunPower’s residential and commercial business division where he was president and general manager. As for the financing round, Sigma Partners closed the financing round and was joined by Khosla Ventures and Energy & Environment Investment.
“PVT Solar is extremely focused on delivering a superior customer experience,” noted Desai. “To that end, we’ve added two key individuals with a proven track record in this area. Steve Walden (previously with Masco Corporation) is PVT Solar’s new director of national sales, and Mike Harshfield (previously with McDonald’s) has been named director of field operations. These hires will enhance PVT Solar sales, channel development, field operations and installation efforts – generating sales, driving deployment, and accelerating adoption of Echo solar energy systems.”