July 6, 2010
Funds Blow In For Mass Megawatts
Worcester-based Mass Megawatts Wind Power Inc. announced it has raised enough cash to eliminate its debt and expand its outgoing operations.
In a press release, the company said it has reduced all company debt to near zero and that it "no longer experiences a severe cash flow problem."
In a recent SEC filing, Mass Megawatts said it raised $967,501 in the private placement of common stock since August 2009.
The company said it is now financially positioned to prepare for mass production of its MAT wind turbines.
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