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Prelude powers $20m equity round for clean energy finance company Renewable Funding

24 Apr 2014

news_green_Power_lrgPrelude Ventures has co-led a $20m equity funding round for clean energy finance company Renewable Funding.

Claremont Creek Ventures also took part in the round alongside existing backer NGEN Partners, Angeleno Group and Apollo Investment Corporation.

The company specialises in delivering large scale, low-cost capital for energy efficiency and renewable energy products for homes and businesses.

Prelude Ventures managing director Gabriel Kra said, “Renewable Funding is extremely well positioned to be a national leader in the most exciting areas of clean energy finance — PACE, unsecured lending and on-bill repayment.

“We are impressed with the depth of experience of the management team in financing, clean energy, policy and large-scale execution.”

Renewable Funding co-founder and CEO Cisco DeVries added, “Renewable Funding has been at the forefront of successful innovation in clean energy finance for more than five years.

“We have helped thousands of homes and businesses obtain energy saving improvements that reduce costs and improve the environment.

“We are excited to accelerate our rollout of new financing products and to add a remarkable group of experienced advisors and board members.”

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