Black Bear Energy, a US-based buyer’s representative that serves large property owners looking to procure renewable energy, said on Monday it has raised USD 2.5 million (EUR 2.3m) from a Series A financing round.
The round was led by Boulder Ventures and included participation from seed investor Rocky Mountain Institute.
“We welcome Boulder Ventures’ investment, which will allow us to advance our software capabilities and expand our offerings to renewable energy buyers,” said Drew Torbin, CEO of Black Bear Energy.
The company will use the fresh funds to shape the renewables market into an organised and competitive platform that benefits both buyers and sellers. Recently, Black Bear Energy facilitated the deployment of 1.3 MW of energy storage in a commercial property owned by LBA Realty. It is touted as the largest indoor energy storage project in the country.