New York City, United States [RenewableEnergyWorld.com] OwnEnergy Inc., a company that enables landowners to develop and own wind farms on their land, has completed its Series A round of financing. EnerTech Capital Partners led the round, with Contour Venture Partners and the New York City Investment Fund adding to their existing commitments to the company. The amount of financing completed was not made public.
“The EnerTech investment comes at an excellent time and further improves our position in the dynamic and growing market for local, community owned wind generation,” said Jacob Susman, OwnEnergy’s founder and CEO. “The corporate capital will allow us to accelerate the expansion of our team and our business. In partnership with our local landowners, we are looking forward to adding significantly to the existing basket of great projects while building the advanced platform and processes required to efficiently and profitably complete these projects.”
OwnEnergy’s business model focuses on partnering with landowners and communities, sharing ownership in the resulting local renewable energy projects, the company said. The company’s operational teams work to help build 10 to 80-megawatt (MW) wind farms. The company also facilitates project evaluation, development servioces, turbine procurement turbines, financing and construction.