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EnerWorks secures $5 million investment


EnerWorks, a North American solar thermal technology provider, has secured $5.1 million in new investment through a private placement which closed January 15, 2009.

 

“This influx of capital will provide us with the resources we need to continue our rapid pace of growth,” says Jim Fletcher, Chair of the EnerWorks Board of Directors and Managing Director with Chrysalix Energy Management, a leading clean-tech VC. Investors in this financing include Chrysalix, the other current VC investors (Investeco, VentureLink and Covington), and several new investors.

 

“This increased capital base will help us respond to the significant number of new projects and opportunities which are coming our way as a result of growing interest in renewable energy, favourable incentives, our recent ENERGY STAR® qualification, and the ecoENERGY program rating of our commercial collectors as the most efficient flat plate collector on the market,” adds Dr. Phil Whiting, EnerWorks President and CEO. “We’ll be devoting additional resources to R&D and to enhanced manufacturing capabilities, with a real focus on the phenomenal growth we’re seeing in the U.S.”




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