Alternative Energy - Wednesday, December 12, 2007
Clean Tech's Energy and Power Solutions Jumps Out With $20M Investment Deal
Enron was a fiasco for just about everyone who touched it. But more than a few people learned a lot there about energy and energy remains a hot market. Energy and Power Solutions was founded by execs who were engineers in the renewable energy department of Enron. Its telling that none of them use the word Enron in their bios.
Costa Mesa-based Energy and Power Solutions has now raised $20M in Series A. The funding came from NGEN and Robeco Groep. The firm says that it had initially planned to raise just $6M but the marketplace for investing in alternative energy is so great it upped it by $12M.
Founded in 2004, Energy and Power Solutions has one a number of top clients including Tyco, UPS, Miller Beer, and Dean Foods. It essentially provides an alternative energy consulting practice to figure out the whole range of issues that a company has to run through to get a green stamp of approval.
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