Clean Power Finance attracts $37m growth capital investment


solar_lrgEdison International and Hennessey Capital are the latest investors to back solar financing marketplace Clean Power Finance by taking part in a $37m growth equity round.

Existing investors Google Ventures, Kleiner Perkins Caufield & Byers and Claremont Creek Ventures also took part in the round.

CPF chief executive Nat Kreamer said the company grew revenue by 325 per cent last year.

Edison senior vice president Bert Valdman said, “Clean Power Finance provides outstanding services to both solar investors and solar professionals, and makes distributed solar an attractive investment.

“We expect distributed solar to play a growing role in our energy future. CPF’s industry leadership makes it a natural investment in this rapidly expanding market.”

Google Ventures general partner Joe Kraus said, “We are extremely excited to have Clean Power Finance in the portfolio.

“This is not your typical capital-intensive ‘clean technology’ investment. CPF is a traditional Silicon Valley enterprise software and financial service innovator that boasts a low-cost, scalable business model and an unparalleled management team.”

CPF closed a $25m investment round from KPCB, Claremont and Google Ventures in September 2011 alongside Clean Pacific Ventures and Sand Hill Angels.

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