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Enbala Power Networks Closes Another $5.5 Million in Financing (and Concludes its $17.5 Million Series B Round)
Friday, August 4, 2017Company Profile | Follow Company
North Vancouver, BC, August 4, 2017--(T-Net)--Enbala Power Networks, a leader in virtual power plant (VPP) and distributed energy resource management software, announced today that Zoma Capital has made a new $5.5 million investment in the company.
Enbala announced earlier this year in March 2017 that it had raised $12 million in financing led by ABB's venture capital unit, ABB Technology Ventures.
The additional $5.5 million Zoma investment marks the conclusion of Enbala's over-subscribed second close of Series B financing, bringing the Series B total to $17.5 million.
Zoma Capital is the investment arm for the family office of Ben and Lucy Ana Walton, based in Denver. Zoma Capital invests in a broad range of market-based sustainable solutions addressing environmental and social problems, with an emphasis on energy, water and community development and with a geographic focus on Colorado and Chile.
“Zoma and Enbala both have offices in Denver, and both are focused on building a sustainable energy future,” noted Enbala President and CEO Arthur “Bud” Vos. “Zoma's investment in Enbala is the perfect alignment of philosophies and goals, and we welcome the investment to further expand our TMplatform.”
Other investors in the Series B include ABB Technology Ventures (NYSE: ABB), National Grid (NYSE: NGG), GE Ventures (NYSE: GE), Obvious Ventures, EnerTech Capital and Chrysalix Venture Capital.
Melissa Cheong, Zoma's Chief Investment Officer, said, “Our investment in Enbala will enable utilities, energy service companies and commercial enterprises to accomplish their common goal of more efficiently utilizing distributed and renewable energy resources. The investment in Enbala also supports Zoma's organizational goal of having an impact within our local communities.”
Enbala has now raised approximately $47 million in 6 rounds of financing according to sources.
About Enbala
Enbala has a single, defining passion -- to make the world's power grids more sustainable by harnessing the power of distributed energy.
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