Those who have followed us for awhile know eNow well. It is a start-up (now getting more mature) bringing new tech around solar and batteries to cut the use of diesel in trucking and small applications of diesel-powered equipment. Since inception, they have shown steady growth. At the same time the market demand for reducing fleet carbon has mushroomed.
Why is this important to you? First, transportation is a big player in the CO 2 game. Their push into renewables and alternative fuels is material to our Paris accord goals. Second, you can be a smart shopper and support companies who embrace carbon improvements. Finally, as we drive more EV's and hybrids, much of this advance technology that is helping fleets get clean will improve our vehicle performance as well. We can piggy back, very quickly, their success.
eNow is just one company we have followed. Collectively these innovative start ups are shaping a much different world. A world in balance. A world that can sustain.financial growth the great quality of life.
eNow, a leader in renewable energy solutions for the commercial trucking, RV and marine industries, today announced it has closed on $2.36 million in Series A funding, bringing the total amount raised to date to $5.3 million. Demand for eNow's solar solutions for transportation vehicles has increased over the last year, which has spurred increased interest and support from investors.
The funding involves twenty private investors and two angel funds, Tamiami Angel Fund and Slater Technology Fund. The investment funds will be used to accelerate the adoption of eNow's products and services, including additions to its financial, sales and technical teams. In addition, Bud Stoddard, formerly with the Tamiami Angel Fund and now a venture partner with the Adrenaline Fund, will join eNow's Board of Directors.
"We are honored by the interest of the investment community in our solutions," said Jeff Flath, CEO and Founder of eNow. "Our company's solutions address both environmental and practical concerns. This 'Planet and Profit' approach translates into less carbon emissions, great fuel savings and a way to deal with increased anti-idling regulations. We look forward to translating this buy-in from the investment community into even greater success in 2017."
As the market leader in designing, developing and manufacturing solar-based power systems for the commercial trucking, RV, and Marine industries, eNow's solutions are known for their durability, superior power, low cost and quick return on investment. Over the past several years, eNow has made great progress within the transportation industry, including partnerships with industry leaders such as Dometic Group, Mitsubishi Fuso, Freightliner, Navistar, IdleAir and Vanner. The eNow solar solution is sold through OEMs and Aftermarket Dealers.
"With this Series A round of financing, eNow can further deploy resources to expand its market share through its exciting lineup of products," said Board Member Bud Stoddard. "eNow has the ability to transform the transportation industry with its advanced energy management systems." - See more at: http://renewablenow.biz/renewable-business.html#sthash.hT2KHbFY.dpuf