EnerWorks Secures $5 Million Investment

thermal technology provider EnerWorks has secured $5.1 million in new investment through a private placement that closed Jan. 15. ‘This influx of capital will provide us with the resources we need to continue our rapid pace of growth,’ says Jim Fletcher, chair of the EnerWorks board of directors and managing director with Chrysalix Energy Management. Investors in this financing include Chrysalix, the other current VC investors (Investeco, VentureLink and Covington), and several new investors. ‘This increased capital base will help us respond to the significant number of new projects and opportunities which are coming our way as a result of growing interest in renewable energy, favorable incentives, our recent ENERGY STAR qualification and the ecoENERGY program rating of our commercial collectors as the most efficient flat-plate collector on the market,’ adds Dr. Phil Whiting, president and CEO of EnerWorks. ‘We'll be devoting additional resources to R&D and to enhanced manufacturing capabilities, with a real focus on the phenomenal growth we're seeing in the U.S.’ SOURCE: Ener