Carbonetworks Corp., a Canadian provider of enterprise greenhouse gas emissions management software and services, has held a first close on a US$5 million Series A round. NGEN Partners is leading the round.
Carbonetworks Corporation, a pioneering provider of enterprise greenhouse gas emissions management software and services, today announced the first close of its US$5 Million Series A round of financing. The funding was provided by NGEN II, L.P., part of the NGEN Partners group of leading cleantech venture funds.
The capital raised strengthens Carbonetworks' ability to support the growing global demand for its software and services. At present, the company is helping over 180 organizations in 23 countries create and manage their greenhouse gas emissions strategies. Customers come from a range of industries, including energy, financial, materials, manufacturing, offset project providers and governments. In the coming months, Carbonetworks expects to significantly expand its operations.
“We have a particularly aggressive growth plan in a nascent and rapidly growing market,” said Michael Meehan, President & CEO of Carbonetworks Corporation. “A major part of this plan includes investing in response to the growing market demand for carbon management services and strengthening our ability to access and support customers. We are very happy to have raised a significant portion of our financing with a leader in cleantech investments like NGEN Partners.”
“We see a great opportunity for Carbonetworks in the rapidly growing carbon industry and believe the company is well positioned to be a global leader in emissions software and services,” said Rosemary Ripley, Managing Member of NGEN Partners.
Carbonetworks (http://www.carbonetworks.com) is a leading provider of enterprise software which is helping over 180 organizations in 23 countries create effective greenhouse gas emissions strategies. The company provides executive-level software to manage emissions inventories and support decisions made anywhere in the organization or supply chain, bringing bottom-line analysis to corporate GHG strategy. Carbonetworks is based in British Columbia, Canada.
About NGEN Partners:
Founded in 2001, NGEN Partners (http://www.ngenpartners.com) is a pioneering investor in the cleantech sector. The firm invests in early to late stage businesses that offer economically valuable products and services that positively affect the environment. With a history in materials science, NGEN has deep expertise in alternative energy, energy efficiency, pollution abatement and green resources. NGEN has offices in California and New York.