Renovate America, a San Diego, CA-based provider of residential Property Assessed Clean Energy (PACE) financing in the U.S., raised $50m in growth equity from new and existing investors.
The round was led by Valor Equity Partners, with participation from Macquarie, RockPort Capital and Spring Creek.
Led by JP McNeill, CEO, and Scott McKinlay, Executive VP, Renovate America partners with local municipalities to provide the HERO Financing Program to property owners, who in turn use the program to finance a wide variety of products to lower utility bills including: solar power; energy efficient HVAC, windows, roofing; and water-saving products such as artificial turf.
The company, which has financed over $250 million in HERO residential energy-efficient improvement projects to date (it has been adopted by more than 165 California cities including San Diego, San Jose, Riverside, Anaheim, Fresno, and San Bernardino, among others), provides funding, administration, technology, training, customer support and a full service call center that assists contractors and property owners with the application and approval process.
FinSMEs
16/07/2’14