Tuesday July 26, 2016 0 comments
BOULDER -- Black Bear Energy, a technology-enabled energy services company that represents commercial renewable energy buyers, today announced it has completed a $2.5 million Series A round of financing.
Boulder Ventures led the investment round with participation from Black Bear Energy’s seed investor, Rocky Mountain Institute (RMI).
Black Bear Energy was founded by Drew Torbin and Kim Saylors-Laster, who led teams at Prologis and Walmart to build the two largest on-site corporate solar programs in the U.S. Black Bear Energy is currently serving clients with more than 1 billion square feet of property after less than 15 months in business.
“We welcome Boulder Ventures’ investment, which will allow us to advance our software capabilities and expand our offerings to renewable energy buyers,” said Torbin, Black Bear CEO.
“This is a vote of confidence in our ability to bring positive change to the renewables market.”
The Series A financing will support Black Bear Energy’s shaping of the renewable energy market into an organized and competitive platform for the benefit of both buyers and sellers, the company said.
Examples of Black Bear Energy’s impact include the recently announced deal between Stem and LBA Realty, in which Black Bear Energy facilitated the deployment of 1.3 megawatts of intelligent energy storage in a LBA commercial property, the largest indoor energy storage project in the country.
“We’re delighted to partner with Boulder Ventures in supporting Black Bear Energy’s rapid growth,” said Herve Touati, Black Bear Energy chair and RMI managing director.
“The commercial rooftop solar market is among the most important contributors to the distributed renewable energy grid, and Black Bear Energy will play an increasingly important role in this development.”
“All of our best companies spring from the authentic experiences of our serial entrepreneurs,” said Kyle Lefkoff, Boulder Ventures founder and general partner.
“Drew and Kim are the most experienced people in this market, and the overwhelming response of their customers to Black Bear Energy validates their unique approach.”