May 21, 2009
VC Firms, ClearPoint Ventures and GoGreen Capital Invest $20 Million in Series A Funding for OwnEnergy
Based in New York, OwnEnergy, Inc. is a company that builds windmills for generating electricity and has finalized a $20 million series A round of funding from ClearPoint Ventures and GoGreen Capital. Along with this round of funding, OwnEnergy had also hired people in key management positions.
OwnEnergy is a company that is in the alternative energy or clean-tech industry making the components for building electricity-generating windmills and other technology that allows land owners to build affordable wind farms and helps local areas and land owners generate profits with these wind farms. The company’s strategy is to incorporate this vanguard technology for producing alternative energy and partnering with land owners, municipalities and businesses by providing a smaller device that can generate electricity from wind.
Along with this funding, OwnEnergy has also announced the hiring of Ray Henger as the company’s director of finances. Before coming to OwnEnergy, Mr. Henger worked as the managing director at the US Power and Renewables Group, a subsidiary of Credit Suisse.
According to Jacob Susman, founder and CEO of OwnEnergy, the fact that Ray Henger is joining the OwnEnergy team is another indication that the company is a highly finance savvy wind generator company. Furthermore, Mr. Henger is a Texas native and comes from a ranching family, so he can identify with the company’s local partners and join forces with them to build highly profitable wind farms that can last for a long time and boost the local economy.
Another person joining OwnEnergy’s team is Chip Readling, who will function as the company’s senior project manager and will oversee the development of projects throughout the Midwest. Mr. Readling has experience in wind farm development and can cement partnerships with local people, construction and integration of the wind farm with the local population of a given area. Before coming to OwnEnergy, Mr. Readling worked at Environmental Power for four years where he directed the development of wind farms in a five-state region.
According to Cindy Crooks, OwnEnergy’s develompent director, Mr. Readling will be a great asset to the company, because he brings successful development expertise to the company.
ClearPoint Ventures is a vc firm that likes to invest in the clean tech industry and helps companies with environmental-friendly energy generating products get off the ground. ClearPoint Ventures is based in New York City and helps clean-tech startups build strong management teams.
GoGreen Capital is a family owned private equity firm based in Europe and solely invests in the renewable energy industry. For over 15 years, the equity firm has invested in solar power as well as other alternative energy suppliers.
For more information about OwnEnergy, click here.