Oct. 4, 2011: REGEN Energy to Expand Marketing Efforts With $5.5 Million in Funding
TORONTO — REGEN Energy Inc.™, developer of the wireless EnviroGrid™ swarm-logic demand management platform, announced that it has closed a $5.5 million equity investment from cleantech investors NGEN Partners and BDC Venture Capital. As part of the financing, Robb McLarty of NGEN and Larry Lam of BDC will join REGEN’s board of directors.
“This new investment will allow us to ‘step on the gas,’ rapidly expand our marketing activities across North America, and tap a multi-billion dollar opportunity for our patented EnviroGrid platform,” said Tim Angus, president and CEO of REGEN Energy. “This is an exciting time for REGEN as we receive follow-on orders from large corporate accounts. We’re excited to increase our channel partners’ revenues by delivering further value-added services to their customers.” REGEN said it will also leverage the funding to enhance features of its product line.