New Hampshire, United States [RenewableEnergyWorld.com] WoodPellets.com an independent distributor and direct-to-consumer retailer of wood pellet heating fuels, has completed an US $11 million financing led by Monitor Clipper Partners. .406 Ventures, the lead investor in the company`s previous financing, also participated.
WoodPellets.com said that it will use the capital to continue its business expansion through a series of strategic initiatives. In addition to its online sales model, WoodPellets.com has created a network of partnerships with other industry leaders, from stove retailers to environmental agencies, to meet the needs of all stakeholders in the alternative energy sector.
“With this new capital, we can continue to innovate our delivery methods, strategically grow our business and advance the adoption of this cost effective and environmentally sustainable energy resource,” said Jon Strimling, founder and president of WoodPellets.com. “We are looking forward to making wood pellets available via bulk delivery, so that wood pellet heat is as easy to use as oil or gas. .406 Ventures has been incredibly helpful to us in rapidly scaling both our online and offline business operations. We are looking forward to tapping into Monitor Clipper Partners` extensive experience in developing distribution businesses as well.”