Applied Solar

Applied Solar
corporation
ISIN US0382401075
Industry Technology
Founded 2005
Headquarters Solana Beach, CA
United States
Key people David A. Field, President and CEO
Website appliedsolar.com

Applied Solar Inc. is a company developing solar energy products and energy management applications—especially with photovoltaics for buildings. The company is located in California.

History

In 2005, Barnabus Energy Inc., which was founded in 2002, acquired 20% of Solar Roofing Systems (SRS). After that, the company changed from developing oil and natural gas projects in Western Canada to the new technology of renewable energy under the name Open Energy Corp.. Senior Scientific Advisor was Dr. Melvin L. Prueitt who was theoretical physicist at the Los Alamos National Laboratory for more than 30 years. In 2004 the share price was listed with more than 25 US$ in the NASDAQ, but declined in the following years. As the solar energy is still the main target, the company decided to change its name to Applied Solar in 2009.

The largest investor is The Quercus Trust with about 10 percent.[1]

Applied Solar filed for Chapter 11 in 2009, converted to Chapter 7 in 2010 and sold its assets (no disbursement in connection with the liquidation went to shareholders).[2] The company had $17.6 million in assets and $29 million in liabilities. It sold its assets to the Quercus Trust, the secretive investment firm run by David Gelbaum. Quercus earlier loaned money to Applied. No distribution was made to shareholders other than Quercus.[3] The officers of Applied Solar have reopened as OneRoof Energy, Inc., dba ORE Solar.[4]

References

References

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.