Massachusetts, United States [RenewableEnergyWorld.com] Fresh off news that it will be the beneficiary of US $20 million in contracts from the state of Massachusetts, Nexamp announced that it has secured $6.5 million in Series A venture financing from Good Energies, Point Judith Capital and RCG Ventures along with individual investors. As part of the financing, Nexamp also announced the addition of a new CEO, Stuart R. Patterson, to succeed Henri-Claude Bailly of RCG Ventures, who remains Chairman of the Board.
Nexamp was co-founded in 2007 by Dan Leary and Will Thompson—who had founded clean energy company NexGen Energy Solutions LLC in 2006—and RCG Ventures. The company achieved 100% growth in revenues in 2008 and over 80% in 2009—and now employs more than 45 people, with plans to accelerate its growth as a result of the most recent investment.
“The clean energy sector is the next frontier for information technology,” said David Martirano, general partner at Point Judith Capital. “Nexamp has not only become a leading provider of clean energy solutions, but has developed innovative, IT-based tools for identifying and implementing cost-effective, customized energy solutions for organizations. This strategy, combined with a top-notch management team, makes Nexamp an excellent fit for Point Judith and our investment objectives in the fast-growing, clean energy market.”
Nexamp combines energy project construction experience with expertise in energy technology, markets, finance, and policy analysis to make clean energy simple and profitable for its clients, the company said.