Tioga Energy Launches with Funding by NGEN Partners, Draper Fisher Jurvetson and Rockport Capital Fund
Jun 5, 2007

PRNewswire

Solar Electricity Services Provider Grants Access to Clean, Commercial-Grade Power


SUNNYVALE, Calif., June 5 /PRNewswire/ -- Tioga Energy, Inc., a solar electricity services provider that offers comprehensive power purchasing services to organizations and industry, launched today with an initial funding round of more than $10 million. Leading the investments were venture capital groups NGEN Partners, Draper Fisher Jurvetson, Rockport Capital, DFJ Frontier and Kirlan Ventures.

"We are very excited to help support Tioga Energy with this early-round financing opportunity," said Steve Parry, a partner with NGEN Partners. "Organizations are struggling to go greener while respecting the bottom line, and a company like Tioga Energy is positioned to be there to help them quickly ramp up with clean and reliable power solutions built for the long-haul," he said.

"We invest in those companies we see as being industry-changing catalysts," added Draper Fisher Jurvetson's Managing Director, Raj Atluru. "Tioga Energy takes power purchase agreements to a whole new level, by providing comprehensive clean power options for a very hungry market sector, while putting a priority on the channel partner relationships required to scale business quickly," he said.

The initial funding round officially launches Tioga Energy and its products into the growing renewable energy sector, and more specifically solar electricity services. Tioga Energy's power purchasing services are arranged to provide comprehensive management and support of solar electricity solutions, including the securing of solar financing, the partnering with top-tier installers and integrators for constructing on-site solar facilities, and the management and support required to make clean energy as seamless and easy as writing a check for a monthly electricity bill.

"The Tioga Energy management team offers a vast array of talent and experience," said Chuck McDermott, a general partner at Rockport Capital Partners. "We look forward to seeing our participation in this early round of funding help the company further build a strong team and develop their operations to achieve the success we believe possible," McDermott said.

The Tioga Energy management team includes CEO Paul Detering, a serial entrepreneur in the energy and technology sector, Vice President of Business Development and Finance Peter Nixon with 20 years of experience in the telecommunications and renewable energy spaces, Vice President of Sales and Marketing Matt Lugar, an 11 year solar industry professional who most recently managed sales and operations for the North American division of the world's largest solar PV manufacturer, Sharp Corporation, and Vice President of Project Finance Kristian Hanelt, formerly of ArcLight Capital Partners, an energy infrastructure private equity fund with $4.6 billion under management.

"This initial, strong show of financing support from our investors will accelerate our ability to offer large-scale solar financing options and rapidly add to Tioga Energy's talent base," said Detering. "The involvement

of these premier cleantech advisors not only helps secure confidence and trust among our partners and customers, but will also help influence our future."

About Tioga Energy:

Tioga Energy is a renewable energy provider that fast-tracks energy independence for commercial, government and non-profit organizations. Through deep, trusted relationships with solar industry partners, Tioga Energy provides simple, reliable, low-cost and long-term access to clean energy options without the risk of up-front capital investments or the ongoing commitments of owning and operating an independent solar facility.

About NGEN Partners:

NGEN invests in companies that focus on clean and sustainable technologies that are primarily enabled by advances in materials science. The firm has deep domain expertise in this field with an established portfolio and track record in the areas of alternative energy, pollution abatement, solid state lighting, green buildings, and water. The firm targets early to mid stage companies where functional prototypes and customer interest validate product viability.

About Draper Fisher Jurvetson:

Draper Fisher Jurvetson is the leader in seed and early-stage venture capital, typically serving as a startup's first outside source of financing. Founded in 1985, Draper Fisher Jurvetson has created a global network of affiliated venture funds with approximately $4.5 billion in capital commitments and offices in the major technology centers around the world. Headquartered in Silicon Valley, the firm has proven expertise in identifying and helping extraordinary entrepreneurs who want to change the world.

About Rockport Capital Partners:

RockPort Capital Partners is a venture capital firm based in Boston, MA that invests in companies in the energy, environmental, and advanced materials sectors. The firm is committed to companies with breakthrough technologies that deliver significant economic value to large potential markets. With the closing of RockPort Capital Partners II in January 2006, RockPort has now raised over $380 million for venture investments. For more information, visit: http://www.rockportcap.com.