clean energy finance
San Mateo, CA, September 6, 2007 – Tioga Energy, Inc., a provider of renewable energy services, providing access to an energy clean and quality for commercial and industry organizations, has completed its initial funding round, with participation of the nth degree, a leading venture capital. Dollars more than $ 4 million provided by this group brings the total amount of the first round of funding raised by Tioga Energy more $ 14 million.
Previous contributors to Tioga Energy funding round included venture capital groups NGEN Partners, Draper Fisher Jurvetson and Rockport Capital, with the support of the funding comes from DFJ Frontier and Kirl companies.
"We are very excited to participate in the financing of Tioga Energy" said Tim Woodward, Managing Director at nth degree. "We see rapid growth in the PPP model for the service for commercial and industrial customers for the systems solar photovoltaic. Tioga management team is world class in their ability to execute on this opportunity and with a strong balance sheet to be able to grow rapidly and become a leader in the industry. "
Tioga Energy will use the full weight of finance for investing in renewable energy systems – With an initial focus on solar electricity services – and the creation of the growing market needs, including providing comprehensive renewable energy options in the market and build channel partnerships at new businesses.
Tioga Energy's power purchasing services are ready to perform the comprehensive management and support solar energy solutions, including obtaining the financing of solar energy, the association with first class installers and integrators to build field of solar installations, and management and support necessary for the smooth and clean energy as easy as writing a check on a monthly electricity bill.
"Experience nth degree and experience is a strong addition to our already first-class clean energy investor group," said director Tioga Energy general, Paul Detering. "These investment dollars allow us to accomplish our goal of accelerating and simplifying solar for companies and organizations seeking to reduce energy costs and go renewable. We are working to build a business the old-fashioned way: hiring people of enormous talent and help our channel partners to expand their market share by developing economic security, reliable product offerings. "
About Tioga Energy:
Tioga Energy accelerates access to clean energy by owning and operating renewable energy facilities for commercial, government and nonprofit organizations. Tioga Energy PPA with solar (power purchase agreement) to customers to eliminate the initial capital investment and ongoing operational concerns. The company partners with trusted industry experts to install and operate efficient and reliable. Through deep relationships of trust with industry partners solar, Tioga Energy provides simple, reliable, low cost and long term access to clean energy options without the risk of up initial capital investment or ongoing commitments of owning and operating an independent solar energy installation.
About NGEN Partners:
NGEN invests in companies that focus on clean and sustainable technologies that are primarily enabled by advances in materials science. The company has domain expertise in this field, one set and career portfolio in the areas of alternative energy, pollution abatement, solid state lighting, green buildings, and water. The company targets early stage companies in intermediate functional prototypes and validate the feasibility of customer interest in products.
About Draper Fisher Jurvetson:
Draper Fisher Jurvetson is the leader in seed and early stage venture capital, typically serving as the source was initially the first funding. Founded in 1985, Draper Fisher Jurvetson has created a global network of venture funds associated with approximately $ 4.5 billion in capital commitments and offices in key technology centers worldwide. Headquartered in Silicon Valley, the company has proven expertise in identifying and helping extraordinary entrepreneurs who want to change the world.
About Rockport Capital Partners:
Rockport Capital Partners is a venture capital firm based in Boston, MA, which invests in energy companies, environment, advanced materials and sectors. The company is committed to companies with breakthrough technologies that offer significant economic value to large potential markets. With the closing of Rockport Capital Partners II in January 2006, Rockport has raised more than $ 380 million for venture investments. For more information, visit: http://www.rockportcap.com.
REFF-WS: Neil Auerbach, Hudson Clean Energy
