Minnesota-based solar-energy firm sold to national investor in renewable energy


October 3, 2019

Neal St. Anthony/Star Tribune

IPS Solar founder Ralph Jacobson (left) has sold most of his stake in the company. He remains as chief innovation officer, and Chief Development Officer Eric Pasi also remains at the company.

A pioneer of the Minnesota solar industry has sold most of his stake in IPS Solar to SmartPitch Ventures, a recently formed private-equity firm focused on the fast-growing renewable-energy industry.

Terms were not disclosed, but SmartPitch is investing several million dollars, company officials said.



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