Tioga Energy Closes $14M Series A With $4M Follow-On
Sep 7, 2007

Venture Wire

Tioga Energy Inc., a renewable energy services provider and project developer, has closed its Series A round with an additional $4 million in financing.

The company, formerly waste-remediation technology developer CerOx Corp., raised the additional capital from San Francisco-based cleantech investment firm Nth Power.

San Mateo, Calif.-based Tioga raised $10 million in its first tranche from investors including NGEN Partners, Draper Fisher Jurvetson, RockPort Capital, DFJ Frontier and Kirlan Ventures.

"We see rapid growth in the PPA model to service the commercial and industrial customers for solar PV systems," said Nth Power Managing Director Tim Woodward in a statement.

Tioga Energy said it will use the funding to invest in renewable energy systems, with a concentration on solar electricity services. The company said it will be developing channel partnerships going forward to improve its ability to bring financing options for new renewable energy projects to market.

The company's power purchasing services are designed to provide comprehensive management and support of solar electricity installations, including securing financing, identifying and partnering with installers and integrators, and the management and support of installations once they're completed.

The company's aim is to make installing renewable energy as easy as writing a check for the monthly electricity bill, it said in a statement.