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Woburn startup 7Solar Technologies, Inc. has taken in its first institutional funding and taken on a new name — 7AC Technologies Inc., according to a federal document.
The filing with the U.S. Securities and Exchange Commission shows that 7AC has landed $300,000 in debt financing. The document doesn’t name the nine backers in the financing, but listed as related persons are directors Jed Swan of Goldman Sachs, Stephen Young of Carrier India and Mitchel Tyson of Tyson Associates. Tyson does not appear on the 7AC website as a member of the board of directors, however.
While it was still known as 7Solar, the company looked to provide heating and cooling of buildings using a combination photovoltaic and thermal module. Since then, it seems to be concentrating on the waste heat driven air conditioning system that integrates to a desiccant chiller that provides heating in winter and air conditioning in summer.
In July, 7AC was recognized as one of the Startup Watch: Five you should follow companies. As 7Solar, it was a finalist in the Cleantech Open’s northeast regional business competition, and a finalist in the inaugural group of competitors for the MassChallenge accelerator program.
7AC was found as 7Solar in 2009 by president and CEO Peter Vandermeulen, who had previously founded Blueshift Technologies Inc. in Andover.
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