Circular Energy Secures $2.7m In Series A Funding
Solar company secures strong investment during renewable energy funding slump
AUSTIN, Texas, June 13, 2013 /PRNewswire/ — Circular Energy, a leading, full-service solar design and installation firm, announced today the company secured $2.7M in Series A funding. The investment, provided by Dallas-based Cypress Capital and a handful of other private investors, was raised during the past several quarters, and is structured as part equity and part royalty debt. The first two seed rounds were for $225,000 in 2009 and $450,000 in late 2010. The new funds will be used to drive geographical expansion, capital investment into back-office workflow automation and further development of the company’s proprietary software solution, CURB, Inc.
At a time in which most solar companies are still facing fallout of the Solyndra debacle and dwindling government rebates – and capital lending is at an all-time low – Circular Energy is experiencing rapid growth. One of the main reasons for the Texas company’s success is its unique business model.
Circular does not rely solely on government subsidies to be profitable, nor do they utilize cheap panels to cut costs. Texas’ booming population growth is in the media daily, as is the stress experienced on the grid. Now more than ever, reliable, quality solar installation is a focus for both businesses and homeowners.
While solar providers are plentiful, where Circular excels is in their ability to provide higher quality and longer-term savings than any of their competition – they secure more power from ‘panel to plug’ than any other provider in the market.
“Providing one point of contact start to finish is fairly unique in the solar installation field, and is making all the difference for our customers. It is no doubt one of the main reasons that Circular is capturing a respectable market share in a very saturated field,” said JC Shore, Circular Energy CEO.
Circular Energy, a leading full-service solar design and installation company in Texas, provides alternative energy solutions to reduce costs and dependence on the grid. Homeowners and businesses statewide, as well as national architects and commercial builders rely on Circular Energy as a trusted resource for unbiased consultation and education, technical expertise and innovative, turnkey solar solutions.
SOURCE Circular Energy