Investor Relations
Where We Are Today
House of Green Tech has established operations in the State of Maryland and will build a sales force of five locally-recruited sales representatives by the end of 2010. The company has to date contracted four suppliers in Sweden and one in Finland. House of GreenTech plans to represent 4-5 suppliers within each of its product portfolio areas.
Financials and Equities Raised To Date
SALESGEN raised SEK 3M (US$ 425,000) in seed capital in September, 2009 in order to establish House of GreenTech in the U.S. The investment came from a group of European investors with ties to Sweden.
In January, 2010, the company topped off its seed capital with an additional SEK5M (US$ 700,000), for a total of SEK 8M (US $1.1M) in funding. The additional resources will enable House of GreenTech to further build-up and expand in the U.S. market.
In addition, the company has received grants from Tillväxtverket, a new Swedish government agency that promotes entrepreneurship, competitiveness, regional and local development and helps Swedish companies reach the global market. This funding will allow SALESGEN and House of GreenTech to better serve its Swedish suppliers through business development in the local market.
House of GreenTech will ask suppliers for a 5-year exclusive sales contract and commission on all U.S. sales with the potential to add the rights to explore IPR’s. The goal is to reach SEK 500M (US$ 75M) in revenues by 2015.
Peter Selemark, President, House of GreenTech
Mobile Sweden: +46 (0)735 23 34 97Mobile U.S: +1 (619) 985-6677
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