The New Jersey company is producing some 200,000 pole-mounted panels for utility Public Service Electric and Gas.
The $40m investment was led by two new investors, Craton Equity Partners and Espírito Santo Ventures, and the company’s existing investors Element Partners; Blue Run Ventures; the US Army’s Venture Fund, OnPoint Technologies; and Kuwait’s National Technology Enterprises Company.
Petra says it will immediately seek to hire 30 executive and professional employees, including project developers, regulatory experts, account managers, engineers and manufacturing personnel as it seeks to expand its customer base.
The
