July 21, 2017 5:10 PM ET

Semiconductors and Semiconductor Equipment

Company Overview of tenKsolar, Inc.

Company Overview

tenKsolar, Inc. designs, manufactures, and markets photovoltaic solutions. It provides RAIS PV System, a solar system for commercial rooftop, distributed ground mount, and carport applications; and commercial rooftop solar PV arrays. tenKsolar, Inc. has a strategic collaboration with SoCore Energy LLC. The company was founded in 2008 and is based in Minneapolis, Minnesota. It has manufacturing facilities in Shanghai, China; and Thailand.

9231 Penn Avenue South

Minneapolis, MN 55431

United States

Founded in 2008





Key Executives for tenKsolar, Inc.

Chief Executive Officer
Founder and President
Age: 54
Chief Financial Officer
Vice President of Operations
Senior Vice President of Special Projects
Compensation as of Fiscal Year 2017.

tenKsolar, Inc. Key Developments

Ten K Solar to Discontinue its Current Operation

Ten K Solar announced that it will be "discontinuing its current operation" and terminating many of the services it formerly provided to customers. The announcement comes less than a year after the company attracted its large single equity investment - $25 million from a group led by Goldman Sachs. But Ten K Solar, which once employed 200 and reached at least $50 million in annual sales. Ten K Solar, in its statement, said it has decided to reposition the business to live within the constraints of these marketplace realities.

Asia Clean Capital and Ten K Solar Sign Exclusive China Partnership

Asia Clean Capital and Ten K Solar announced an exclusive distribution agreement for the Mainland China market. Under the terms of the Agreement ACC will develop solar projects in China using Ten K's patented solar technology, and Ten K will provide equipment for the projects from its Shanghai production facility. The cooperation is anticipated to achieve 40MW of installed capacity within the next eighteen months, with further increases in production capability and sales pipeline forecast thereafter.

Ten K Solar Announces Executive Changes

Ten K Solar announced that Jeffrey J. Hohn has joined the company as Chief Executive Officer, effective June 1, 2016. Hohn, who formerly served as VP and General Manager of 3M's Renewable Energy Division, will succeed Joel Cannon, a Co-Founder of Ten K Solar. Going forward, Cannon will serve as Ten K's Chief Strategy Officer and remain on the Company's Board of Directors. Hohn has held multiple direct leadership positions, serving as a VP and General Manager and VP of Business Development at companies such as 3M, Veeco Instruments, and Seagate Technology.

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