Alternative Energy Partners secures USD 8m in funding for acquisitions, working capital
(ADPnews) - Dec 28, 2010 - US Alternative Energy Partners Inc (OTC:AEGY) said today that its parent -- Healthcare of Today Inc -- has arranged USD 8 million (EUR 6m) in financing to support AEGY's working capital and provide funds for acquisitions.
The financing deal will not result in any dilution of AEGY's stock, the company said.
A week ago, AEGY said it will acquire Renewable Energy and Water as part of its new strategy to focus on profitable opportunities such as fuel cells, solar photovoltaics (PV) and water reclamation. The company is still working to meet the listing requirements of the NASDAQ stock exchange.