NG Advantage LLC, a Milton, VT-based provider of a compressed natural gas (CNG) delivery service, closed its first equity investment.
The amount of the transaction was not disclosed.
Investors include Boston-based private investment firm Essex Flagship Investors Group, Dr. David Donohue, a Boston-based developer of U.S. underground gas storage facilities and founder of IHRDC, and members of the Clean Energy Venture Group.
The company intends to use the capital to grow across New England and New York.
Founded in 2011 by Tom Evslin (Chairman) and Mary Evslin and led by Neale Lunderville (Chief Executive Officer), NG Advantage delivers natural gas to large industrial, commercial and institutional users not connected to a pipeline. The company compresses natural gas from an existing pipeline into specialized trailer-mounted containers and delivers it via public highways directly to customer facilities.
The company will begin deliveries in March 2013 across New England. Beginning in mid-2013, NG Advantage will add other compressor stations throughout the region.