USA – Gridium, a Menlo Park, CA-based decarbonization company that partners with real estate firms, raised $14M in funding.
The round was led by Navitas Capital. Gridium also entered into a revolving debt financing facility sized at $10M with Mitsubishi HC Capital America, Inc. The facility supports its capacity to provide upgrades to equipment, controls and software without requiring an upfront capital expenditure from customers, an offering named Gridium Alpha. Projects will be executed in the service territories of PG&E, SDG&E, and SCE in California.The company intends to use the funds to accelerate its hiring efforts, scale its software offerings, and bolster strategic partnership opportunities.Led by CEO Tom Arnold, Gridium serves building owners and operators to navigate the energy transition by improving efficiency, financing retrofits, and streamlining operations. The company directly serves over 300 million square feet of office buildings, corporate headquarters, and medical facilities across the United States. With Gridium, these buildings save millions of dollars on electricity, gas, and water utility bills, reduce their carbon emissions, and execute on their sustainability goals. 24/02/2023
