RENEW announced it has successfully closed a $40 million capital pool, the largest in its history. Rollins Capital led the investment and was joined by Proficio Capital Partners and a group of RENEW’s original angel investors.
The new capital pool will help drive RENEW’s growing “energy-efficiency-as-a-service” business, which provides building owners and businesses with a single, turnkey solution for the design, construction, financing, and oversight of cost-saving, energy-efficiency retrofits. More than $11 million of the new funds are already earmarked for use on multiple construction-ready projects in New York and Massachusetts, including multi-family housing complexes, manufacturing facilities, and hospital systems. The projects encompass combined heat and power (CHP) implementations along with more traditional energy-efficiency services spanning lighting, HVAC, and building controls.