Skyline Innovations, a Washington, D.C.-based energy savings solar water heating company, has received a $1m investment from Advantage Capital Partners.
The company intends to use the funds, raised in connection with the District’s Certified Capital Company (CAPCO) Program, to expand and help to create additional jobs in the D.C. area.
In conjunction with the funding, Advantage Capital managing director Jonathan Goldstein joins Skyline’s Board of Directors.
Founded in 2009 by CEO Zach Axelrod, Skyline Innovations provides commercial-scale solar-powered water heating systems to businesses and the public sector. The company finances, installs, monitors and maintains solar water heating systems at no upfront cost in Washington, D.C., Arizona, California, Florida, Hawaii and Maryland.
Skyline Innovations currently employs 16 people and anticipates creating four new jobs in the next six months.