Monday September 10, 2012 0 comments
DENVER - RavenBrick has secured a $5 million round of equity funding from an affiliate of Aravaipa Venture Fund of Boulder to build an automated production line and begin large-scale fabrication of its patented RavenWindow, the company announced today.
RavenBrick also announced it will hire 80 new employees in early 2013.
"In any structure, windows are the weakest link and the largest consumer of energy," said Alex Burney, RavenBrick CEO.
"Commercial and residential demand for the next generation of energy-efficient window technology is expected to be $1.7 billion by 2017, and RavenBrick's new Denver production facility will be ready to meet that demand."
The company said its RavenWindow "is the only cost-effective dynamic window solution that reduces energy use by more than 30 percent by capturing and using heat in cold temperatures and reflecting heat when temperatures rise."
"Unlocking the potential of building energy efficiency is one of our top initiatives," said Paul Scharfenberger, the Colorado Energy Office's finance manager.
"We selected RavenBrick to receive a loan from our Revolving Loan Fund because its technology is driving significant advancements in the next generation of efficient building products and the company is poised to create a significant number of jobs in Colorado."
RavenBrick's new automated facility is expected to produce one million square feet of RavenWindows annually.
For more information, visit www.ravenbrick.com.