Standard Renewable Raises $7 Million

Standard Renewable Energy, a Houston-based provider of energy efficiency and renewable energy solutions, has raised $7 million in Series B funding led by The Quercus Trust.

 

PRESS RELEASE 

 

Standard Renewable Energy, a Houston-based provider of energy efficiency and renewable energy solutions, today announced it has received $7 million in Series B funding, adding to the $8 million it received less than 12 months ago in its Series A round. The Series B funding was led by The Quercus Trust of California, a private trust that has established itself as a leading strategic investor in both the renewable energy and clean energy technology sectors.

 

“As energy prices continue to rise, more and more home and business owners are turning to renewable energy and energy efficiency solutions to have greater control over their energy use,” said John Berger, CEO of Standard Renewable Energy. “People want to be more proactive in their energy choices, but many haven't had a resource that offers them easy alternatives. With this new funding, Standard will continue to expand its customer reach throughout its current markets in Texas, Colorado, Oklahoma, and Louisiana, as well as pursue plans for expansion into six additional states within the next 12 months.”

 

In conjunction with its capital raise, Standard Renewable Energy is adding three new members to its Board of Directors: David Gelbaum, co-trustee of The Quercus Trust; Peter L.Corsell, President and CEO of GridPoint, Inc.; and J. Roderick Heller III, Chairman of GridPoint, Inc. and Chairman and CEO of Carnton Capital Associates, LP.

 

“The Quercus Trust is dedicated to investing in companies that provide exceptional return on shareholder investment, as well as those that will have a positive impact on future generations. I believe Standard Renewable Energy is well positioned to make that kind of difference by providing homeowners and businesses nationwide with simple and cost effective ways to make smart energy choices that help them achieve greater energy efficiency and utilize clean energy resources,” said David Gelbaum.

Standard Renewable Energy's $8 million in Series A funding was led by SREG, LLC, a Houston-based renewable energy private equity fund.

 

About Standard Renewable Energy

Standard Renewable Energy's mission is to be the country's premier provider of energy efficiency and renewable energy solutions for homes and businesses. Standard's unique approach is based on the RE(3 )concept, which includes: Reviewing current energy use, Reducing energy consumption, and Renewing energy options by providing clean energy resources. Standard's RE(3) offerings include: energy audits, high-efficiency heating and cooling products and services, spray-foam insulation, solar window film, solar photovoltaic (PV) energy systems, solar thermal water heating systems, wind energy systems and more. For more information about Standard Renewable Energy, visit www.sre3.com.

 

About The Quercus Trust

The Quercus Trust is run by David Gelbaum and his wife, Monica Chavez Gelbaum. The Trust is based in Newport Beach, California, and is focused on investing in companies that are building businesses that will generate significant returns for shareholders while protecting the environment and creating a better future for current and future generations.