Plans for US rooftop solar company Sungevity to go public have fizzled out, reflecting the brutal chill blowing across US renewables stocks—and solar companies in particular.
Last June Oakland, California-based Sungevity unveiled an unusual agreement to merge with Easterly Acquisitions Corp., a shell company, and list shares on the Nasdaq Stock Market.
Sungevity is a smaller rival of rooftop players like SolarCity and Sunrun, albeit with an “asset-light” business model that focuses on its web platform, with much of the physical work associated with rooftop PV outsourced to other companies.
