Seattle-based solar developer OneEnergy Renewables has closed $5 million in Series B financing.
New investor Ecosystem Integrity Fund (EIF) led the round, with additional support from existing investors, including members of the Seattle-based cleantech group Element 8. Devin Whatley, an EIF partner, has joined OneEnergy's board of directors.
OneEnergy says the new funding will support the company's continued growth in established and emerging markets across the U.S.
‘We're seeing strong demand from institutional customers that want to access the fixed-price benefits of solar power, at scale,’ says Bryce Smith, CEO and co-founder of OneEnergy. ‘These off-site projects deliver substantial energy cost savings, significantly improve the risk profile of operating budgets, and accelerate the transition to clean energy.’