REGEN Energy Inc., which provides a wireless smart grid technology platform for building owners to manage electrical demand, has closed its Series B funding round on more than $12 million. The funding round was led by new investors including a U.S. utility company, Export Development Canada and EnerTech Capital, and was supported by existing REGEN investors BDC Capital and NGEN Partners.
REGEN Energy Inc. announced today the closure of a Series B funding round in excess of $12 million. The round was led by new investors including a major US utility company, Export Development Canada (EDC) and EnerTech Capital, and was supported by existing REGEN investors BDC Capital and NGEN Partners.
“This funding represents a great vote of confidence in REGEN’s business and in our long term potential,” said Pete Malcolm, President and CEO of REGEN Energy. “We are already one of the fastest growing companies in the demand management space, and this funding will not only underpin that growth, but allow us to bring the very significant energy savings generated by our unique SWARM Energy Management® platform to more and more commercial and industrial organizations.”
REGEN’s patented SWARM Energy Management® platform has already been adopted by more than 300 organizations, including some of the largest and most respected retailers in North America. Using SWARM, customers have reduced energy costs by 25% or more. Installation is non-disruptive and quick, and in most cases, a substantial proportion, if not all of the installation costs are covered by utility incentives, providing an extremely rapid return on investment.
About REGEN Energy
REGEN is revolutionizing the way building owners manage their electrical demand through its patented wireless smart grid technology platform, Swarm Energy Management®. Swarm generates dramatic demand management and automated demand response electrical savings opportunities. It allows small to mid-sized commercial, industrial and institutional buildings with little-to-no building automation to finally participate in the rapidly growing automated demand response and dynamic load management markets. REGEN’s major offices in North America are located in San Marcos, California and Toronto, Canada.
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SOURCE REGEN Energy Inc.