Tioga Energy, Inc., a San Mateo, CA-based supplier of renewable energy services to commercial, government, and non-profit institutions, has completed $20m of an initial closing of its Series B financing round.
Investors in this financing included MEMC Electronic Materials (NYSE:WFR), NGEN Partners, Nth Power and Draper Fisher Jurvetson.
As confirmed by Paul Detering, CEO of the company, the funds will support Tioga’s growth and short-term financing needs for construction and development of solar projects.
Through its SurePathSM Solar Power Purchase Agreements (PPAs), Tioga maintains and operates solar systems on behalf of its customers. Its solution aims to deliver predictably priced power and enable organizations to not only green their operations but also manage their energy budget.