Tioga Energy, Inc., a commercial solar provider granting access to clean, commercial solar power for organizations and industry, has completed its initial funding round with participation from Nth Power, a leading venture capital company. The more than $4 million dollars contributed by that group brings the total amount of first-round funding raised by Tioga Energy to more than $14 million.
Previous contributors to Tioga Energy’s A-round of funding included venture capital groups NGEN Partners, Draper Fisher Jurvetson and Rockport Capital, with supporting finance sourced from DFJ Frontier and Kirlan Ventures.
“We are very excited to participate in the funding of Tioga, “ said Tim Woodward, a Managing Director at Nth Power. “We see rapid growth in the PPA model to service the commercial solar and industrial customers for solar pv systems. Tioga’s management team is world class in their ability to execute on this opportunity and with a strong balance sheet they should be able to grow fast and become one of the leaders in the commercial solar sector.”
Tioga will use the full weight of the funding to invest in renewable energy systems – with an initial focus on commercial solar electricity services – and building out for the growing market needs, like providing comprehensive renewable energy options for the market and building the channel partnerships to scale for new business.
Tioga’s commercial solar power purchasing services are arranged to provide comprehensive management and support of commercial solar electricity solutions, including the securing of commercial solar financing, the partnering with top- tier installers and integrators for constructing on-site commercial solar facilities, and the management and support required to make clean energy as seamless and easy as writing a check for a monthly electricity bill.
“Nth Power’s experience and expertise is a powerful addition to our already top-tier clean energy investor group,” said Tioga Energy’s CEO, Paul Detering. “These investment dollars allow us to accomplish our goal of accelerating and simplifying solar for companies and organizations looking to lower their energy costs and go renewable. We are working to build a company the old fashioned way: hiring tremendously talented people and helping our channel partners expand their market share by developing financially secure, reliable product offerings.”