Recently, a private placement deal was signed between World Energy Solutions Inc., which is a Worcester-based operator of online exchanges for energy and green commodities, and Bond Capital Ltd. that would bring around $2.5 million to the company.
It has been stated that an affiliate of Bond will buy $1 million worth of World Energy’s common stock at a cost of $2.97 per share.
An additional $1.5 million in shares, has also been offered by World Bank on the same terms to Bond or its designee. The offer is valid till Dec. 31, 2009, and the price of the shares will be determined at the time of investment.
The World Energy officials said that the money raised will be used for general corporate purposes and to help the company move its plans for growth forward.
The World Energy Exchange deals in auctions for traditional energy units, such as electricity and natural gas. In 2007, it launched World Green Exchange, which is an auction platform focused on carbon markets, including carbon credits, offsets and renewable energy certificates (RECs).