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CPower Gets $10.68 Million for Energy Management
May 1, 2009Source: Clean Edge News
CPower, an energy management firm, recently announced the closing of
its Series B round of financing. This $10.68 million investment was
led by a new investor in the company, Mayfield Fund, as well as
returning investors, including Bessemer Venture Partners, Expansion
Capital Partners, Schneider Electric Ventures, New York City
Investment Fund and Consensus Business Group.
According to the company, proceeds from this latest round will be
used to accelerate business growth in new geographies and vertical
markets, and fuel the continued technological innovation established
in the company’s turnkey energy management solutions.
CPower offers a range of energy management programs including demand
response capacity, reserves and regulation, energy efficiency, peak
load management and white certificates. Recently, CPower expanded
across North America into California, the Mid-Atlantic region, Texas
and Ontario. Some of the company's clients include Wal-Mart, Sears
Holdings Corporation, Kmart, Marcal Manufacturing, LaFarge North
America, Long Trail Brewing Co., National Envelope, Passaic Rubber,
Ramapo College, Vitamin Shoppe, and Western Container.