Greentech Lead America: Skyline Innovations, a solar
water heating company, has received $1 million investment from Advantage
Capital Partners, a venture capital and small business finance firm. The
financing will help Skyline expand its cleantech business and create additional
jobs in the D.C. area.
“The investment from Advantage Capital will expand our
ability to deliver guaranteed savings to underserved customer segments:
multifamily buildings and mid-sized businesses in the District. These funds
will also enable the further creation of local jobs in construction and project
management,” said Zach Axelrod, founder and CEO of Skyline Innovations.
The fund was raised in connection with the District’s
Certified Capital Company (CAPCO) Program, which encourages the flow of
investment capital to promising small businesses located in the District.
Advantage Capital managing director Jonathan Goldstein
joins Skyline’s Board of Directors.
“This is an exciting opportunity for Advantage Capital to
support an emerging clean energy company in the District. Skyline Innovation
won first place in the 2011 Washington, D.C. Economic Partnership’s annual
Business Plan Competition, and we believe in their potential to provide
meaningful value to customers seeking sustainable energy solutions,” said Chris
Harris, Advantage Capital vice president.
Skyline Innovations finances, installs,
monitors and maintains clean, reliable solar water heating systems at no
upfront cost. In addition to Washington, D.C., the company deploys its systems
in Arizona, California, Florida, Hawaii and Maryland.
Skyline Innovations and WGL Holdings complete solar water
heating systems in California
Recently, Skyline Innovations and WGL Holdings completed
solar water heating systems for three multifamily buildings in southern California.
The buildings are owned by Williams Holdings and it will receive solar hot
water at a 25 percent fixed discount to their utility rate for water heating.
editor@greentechlead.com