Ironridge Global Partners, LLC Launches Green Initiative to Fund Sustainable Public Companies with $10 Million Deal
Los Angeles, California (PRWEB) December 31, 2013 -- Ironridge Global Partners, LLC, an institutional investor making direct equity investments in micro-cap public companies, today announced that it has launched a green initiative to fund sustainable businesses, including emerging growth companies focused on environmental sustainability and environmentally-friendly products and services.
Ironridge Global recently entered into a $10 Million registered direct financing for Ascent Solar Technologies, Inc., a manufacturer of flexible thin-film solar photovoltaic modules, funding growth and expansion of its new EnerPlex series of solar powered consumer products.
Ironridge also recently agreed to pay over $500,000 to pay for parts for Green Automotive Company to make buses, utilizing the Section 3(a)(10) fairness hearing procedure.
Ironridge funded over $2.5 Million to product suppliers of Green Innovations Ltd., to pay for inventory of biodegradable, recycled and bamboo-based baby wipes and bath tissue, also using the Section 3(a)(10) exception.
Ironridge has funded approximately $5 Million to pay creditors of Jammin Java Corp., including suppliers of its sustainably grown, ethically farmed Marley Coffee, following a Section 3(a)(10) fairness hearing.
Ironridge Global has paid over $6 Million to Cereplast, Inc., a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, and its creditors.
Ironridge has also paid over $6 Million to organic agriculture and aquaculture company Sino Agro Food, Inc. and its suppliers.
Ironridge Global previously invested over $500,000 for XsunX, Inc., to enable it to develop, assemble and configure its CIGSolar TFPV solar cell evaporation system.
"According to the 2013 Small Business Sustainability Report, growth rates of green product segments are outpacing traditional alternatives. driven in large part by growing consumer demand for earth-friendly biodegradable products," commented John C. Kirkland, Managing Director of Ironridge Global Partners, LLC. "The solar electric market remains on pace for another record year, with 4.4 gigawatts of photovoltaic power projected to come online in 2013, according to the most recent market insight report by GTM Research and the Solar Energy Industries Association. We view the green market as a tremendous investment opportunity, especially in the micro-cap sector, and Ironridge Global is aggressively seeking additional eco-friendly public company investments."
About Ironridge Global Partners
Ironridge Global Partners, LLC is an institutional investor, making direct equity investments in micro-cap public companies. Its Liability for Equity (LIFE) program allows public companies to satisfy trade payables, debts and other liabilities in exchange for unregistered common stock utilizing a Section 3(a)(10) fairness hearing. Ironridge Global is the industry leader in this innovative financing structure, which substantially reduces the transactional costs and time necessary to complete a deal. The fund has entered into more than 50 equity financing transactions in the last three years, ranging from under a quarter million to over $15 million each. Ironridge Global seeks to be a long-term financial partner, assisting public companies in financing growth and expansion by supplying innovative funding solutions and flexible capital. For more information on Ironridge Global Partners, please visit http://www.ironridgeglobal.com.
John C. Kirkland, Ironridge Global Partners, LLC, http://www.ironridgeglobal.com/contact/, 310-935-3900, [email protected]
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