King Energy, a Durango, CO-based provider of solar energy solutions for multi-tenant commercial properties, raised $10M in funding.
The round was led by ArcTern Ventures with $7M and an additional $3M from existing investors Blackhorn Ventures, Active Impact Investments, and Next Frontier Capital.
The company intends to to use the funds to accelerate the expansion of its solar financing and billing platform that brings renewable energy to multi-tenant commercial buildings, scale operations, hiring, and technology enhancements, furthering its reach across North America.
Led by CEO John Witchel, King Energy manages nearly 200 energy programs at multi-tenant commercial properties, serving more than 25 million square feet of tenant space. Their vision is to bring solar to every commercial rooftop by providing clear financial value to both property owners and their tenants. With its OneBill software platform, the company optimizes the allocation and billing of energy to a commercial property’s tenants. By combining OneBill with project financing, solar program installation, and long-term management, King Energy serves as a single source solar partner that adds material financial value to commercial properties. This approach allows businesses to adopt clean energy, reducing both operational costs and carbon footprints without the upfront expenses or complexities typically associated with solar power.
He currently serves on the board of Wunder Capital, La Plata Electric, and recently on the board of Colorado Solar and Storage Association.
FinSMEs
16/10/2024