OneEnergy Renewables, a Seattle, WA-based developer of distributed, utility-scale solar photovoltaic (PV) projects, closed a $5m Series B financing round.
The round was led by new investor Ecosystem Integrity Fund (EIF) with support from existing investors, including members of the Seattle-based cleantech angel group, Element 8. In conjunction with the funding, Devin Whatley, an EIF partner, joined OneEnergy Renewables’ Board of Directors.
The company intends to use the funds to expand the reach of its product in established and emerging markets across the country.
Led by Bryce Smith, CEO and co-founder, OneEnergy Renewables develops distributed, utility-scale solar PV projects and creates power purchase agreement (PPA) products that expand the marketplace for clean energy. Its Purpose-Built Solar™ enables commercial and institutional customers to procure power from large-scale offsite solar projects and to integrate these purchases into their broader electricity procurement strategy.