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WorldWater Power Receives 4.45 Million

Jessica Perry//July 27, 2005

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WorldWater Power Receives 4.45 Million

WorldWater Power Receives 4.45 Million

Jessica Perry//July 27, 2005

In addition to strengthening the working capital and operations base, these funds will enable the company to expedite the nine current projects.WorldWater & Power, a developer of solar-energy systems in Pennington, has received $4.45 million in financing to help fund current
projects and strengthen its balance sheet.
WorldWater arranged a $4 million financing agreement with a hedge fund affiliated with Centrecourt Asset Management in New York City and raised $450,000 through the exercise of warrants held by shareholders. WorldWater also converted debt into common stock, reducing long-term debt by $900,000.
“In addition to strengthening our working capital and operations base, these funds will enable us to expedite the nine current projects in our backlog,” says Quentin Kelly, CEO of WorldWater.

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