San Mateo, California [RenewableEnergyAccess.com] Tioga Energy, Inc., a renewable energy services provider, has completed its initial funding round with participation from Nth Power, a leading venture capital company. With more than $4 million dollars contributed by that group, the total amount of first-round funding raised by Tioga Energy comes to more than $14 million.Previous contributors to Tioga Energy’s A-round of funding included venture capital groups NGEN Partners, Draper Fisher Jurvetson and RockPort Capital, with supporting finance sourced from DFJ Frontier and Kirlan Ventures.
Tim Woodward, a Managing Director at Nth Power said, “We see rapid growth in the PPA model to service the commercial and industrial customers for solar PV systems.”
Tioga Energy will use the full weight of the funding to invest in renewable energy systems—with an initial focus on solar electricity services—and building out for the growing market needs, like providing comprehensive renewable energy options for the market and building the channel partnerships to scale for new business.
Tioga Energy’s power purchasing services are arranged to provide management and support of solar electricity solutions, including the securing of solar financing, the partnering with top-tier installers and integrators for constructing on-site solar facilities.
“Nth Power’s experience and expertise is a powerful addition to our already top-tier clean energy investor group,” said Tioga Energy’s CEO, Paul Detering. “These investment dollars allow us to accomplish our goal of accelerating and simplifying solar for companies and organizations looking to lower their energy costs and go renewable.”