REGEN Energy Inc. has closed a Series B round of financing in excess of $12 million led by new investors including a major US utility company, Export Development Canada (EDC) and EnerTech Capital. Existing investors BDC Capital and NGEN Partners also participated in the new financing.
REGEN Energy provides patented wireless electrical demand management and automated demand response solutions to commercial & industrial facilities.
“This funding represents a great vote of confidence in REGEN’s business and in our long term potential,” said Pete Malcolm, President and CEO of REGEN Energy. “We are already one of the fastest growing companies in the demand management space, and this funding will not only underpin that growth, but allow us to bring the very significant energy savings generated by our unique SWARM Energy Management® platform to more and more commercial and industrial organizations.”
REGEN’s patented SWARM Energy Management® platform has already been adopted by more than 300 organizations, including some of the largest and most respected retailers in North America. Using SWARM, customers have reduced energy costs by 25% or more. Installation is non-disruptive and quick, and in most cases, a substantial proportion, if not all of the installation costs are covered by utility incentives, providing an extremely rapid return on investment.