OwnEnergy Completes Financing Round

NAW Staff, Friday 10 October 2008 - 10:20:37

OwnEnergy Inc., a wind project developer located in Brooklyn, N.Y., has completed its Series A round of financing. EnerTech Capital Partners led the round, with Contour Venture Partners and the New York City Investment Fund adding to their existing commitments to the company. As a result of the investment, Tucker Twitmyer of EnerTech will join the board of directors.

"The EnerTech investment comes at an excellent time and further improves our position in the dynamic and growing market for local, community-owned wind generation," says Jacob Susman, the OwnEnergy's founder and CEO. "The corporate capital will allow us to accelerate the expansion of our team and our business. In partnership with our local landowners, we are looking forward to adding significantly to the existing basket of great projects while building the advanced platform and processes required to efficiently and profitably complete these projects."

OwnEnergy focuses on partnering with landowners and communities, sharing ownership in the resulting local renewable energy projects. The company develops 10 MW to 80 MW wind farms.

SOURCE: OwnEnergy



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