Clean energy advisor Nexamp raises $6.5m in Series A funding

9 February 2010

Nexamp, a Massachusetts-based provider of advisory services and solutions to implement clean energy projects, has raised $6.5m in Series A funding.

Backers include renewable energy investor Good Energies, early stage venture capital firm Point Judith Capital, early stage clean energy investment firm RCG Ventures and individual angel investors.

‘The clean energy sector is the next frontier for information technology,’ said David Martirano, general partner at Point Judith Capital.

Nexamp said the financing will enable it to further expand its clean energy solution offerings and its presence nationwide. As part of the financing, Nexamp also appointed a new CEO, Stuart R Patterson, to succeed Henri-Claude Bailly of RCG Ventures, who remains chairman of the board.

‘Good Energies has a proven track record of investing globally in rapidly growing renewable energy and energy efficiency companies that have the potential to be market leaders,’ said Michael Ware, Good Energies’ managing director. ‘Nexamp’s outstanding management team, robust business model, and demonstrated growth potential in the clean energy market align closely with Good Energies’ portfolio investment criteria. We are excited to partner with Nexamp, our first investment in a full-service clean energy solutions company, in their next phase of growth.’

Nexamp provides advisory services and turnkey solutions to help businesses, governments, and homeowners implement clean energy projects that reduce energy costs and carbon emissions. The company employs technologies ranging from geothermal heating and cooling to solar energy and energy-efficient lighting, combining energy project construction experience with expertise in energy technology, markets, finance and policy analysis.

HC Bailly, managing partner of RCG Ventures, said, ‘Nexamp has made great strides over the past several years, and I am proud of all that we have accomplished together. Looking ahead, I am confident that Nexamp will continue to excel as the premier clean energy solutions company in New England and, eventually, the nation. I thank the management team and staff of Nexamp for their ongoing contributions to a greener future.’

Nexamp was co-founded in 2007 by founders of clean energy company NexGen Energy Solutions, Dan Leary and Will Thompson, and RCG Ventures. The company achieved 100 per cent growth in revenues in 2008 and over 80 per cent in 2009. Last week, the company received $20m in federal stimulus funding for use in 4.1MW of solar power installations at public facilities across the Commonwealth of Massachusetts.

Founded in 2001, Good Energies invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy. The company manages the renewable energy portfolio of COFRA, a family owned and managed group of companies. The firm operates globally from offices in London, New York, Toronto, Washington and Zug, Switzerland.

Nexamp is a clean energy solutions company that designs, builds and maintains clean energy projects that reduce energy costs and carbon emissions for businesses, governments, and homeowners.

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Tags: energy efficiency

This story was published on Tuesday, February 9th, 2010 at 6:45 pm and is filed under North America, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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