REGEN Energy Inc., a Toronto, Ontario, Canada-based provider of practical energy solutions designed to lower electricity costs, has closed a $5.5m equity funding.
Backers include cleantech investors NGEN Partners and BDC Venture Capital.
The company intends to use the funds to expand marketing activities across North America. REGEN will focus its resources in the United States in both the southwest (particularly California, where it opened an office in September), and the Northeast U.S., where utilities offer substantial financial benefits for customers through demand reduction and incentive programs.
Founded in 2005 and led by President and CEO Tim Angus, the company provides commercial, industrial, institutional, and multi-unit residential facilities with the ability to reduce their electrical demand charges. REGEN works with a network of resellers and engineering consulting firms across Canada and the United States.
In conjunction with the funding, Robb McLarty of NGEN and Larry Lam of BDC will join the company’s Board of Directors.