A Wrightsville Beach-based solar company hopes to raise $2.5 million, according to a filing with the Securities and Exchange Commission.

Koolbridge Solar Inc. filed the Form D on April 10. The minimum investment accepted from any outside investor is $10,000, according to the filing. The company does not intend the offering to last more than one year, and it is not being made in connection with a business combination transaction.

Of the proceeds, $258,000 will go toward payments to executive officers, directors or promoters. Of that, Chairman John Stephen Burnett and director Paul Dent will receive $84,000 each, Director J. Phillips Johnston will receive $60,000, Chief Executive Officer Bill Griffin will receive $24,000, and Chief Financial Officer Bob Belts will receive $6,000.

Founded in 2013, Koolbridge Solar designs, develops and sells electrical products for homes. It provides a “Smart Load Center” that can automatically select the use of electrical power from the utility grid, solar panels, batteries, generator and even wind power.

In February 2017, the company raised $875,000 from 14 investors. Dr. Jaap Haartsen, the inventor of the Bluetooth Technology, joined Koolbridge Solar as a technology advisor in late March 2017.

The Form D can be found here.

The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.