Pika Energy, Inc., a Westbrook, Maine-based clean energy manufacturer, held a $2.25m initial closing of a $3.1m Series A funding.
The round was led by an affiliate of Massachusetts-based Clean Energy Venture Group (CEVG). In conjunction with the funding, John Bobrowich and Wanda Reindorf, both partners at CEVG, joined Pika’s board as a member and observer, respectively.
The company intends to use the funds to scale up manufacturing and sales of its proprietary technology.
Led by President and CEO Ben Polito and Director of Strategic Partnerships Rob Smart, Pika Energy manufactures direct current (DC) power electronics for integrating distributed resources, such as solar photovoltaic (PV) power, with energy storage, the electricity grid and direct current (DC) loads.
The company has just announced the launch of its new product line for solar-plus-storage applications. The Pika Energy Island™ system uses the company’s DC bus to enable integration of batteries with solar PV generation, giving homes and businesses a solution for clean energy integration and management.
Pika Energy has received past funding from the National Renewable Energy Laboratory (NREL), the Maine Technology Institute and the Small Enterprise Growth Fund. Private investors include members of the Maine Angels and eCoast Angels.
FinSMEs
02/03/2016