Seasoned Investor Bud Stoddard to Join Board of Renewable Energy Leader
Dec. 13, 2016—Warwick, RI—eNow, a leader in renewable energy solutions for the commercial trucking, RV and marine industries, today announced it has closed on $2.36 million in Series A funding, bringing the total amount raised to date to $5.3 million. Demand for eNow’s solar solutions for transportation vehicles has increased over the last year, which has spurred increased interest and support from investors.
The funding involves twenty private investors and two angel funds, Tamiami Angel Fund and Slater Technology Fund. The investment funds will be used to accelerate the adoption of eNow’s products and services, including additions to its financial, sales and technical teams. In addition, Bud Stoddard, formerly with the Tamiami Angel Fund and now a venture partner with the Adrenaline Fund, will join eNow’s Board of Directors.
“We are honored by the interest of the investment community in our solutions,” said Jeff Flath, CEO and Founder of eNow. “Our company’s solutions address both environmental and practical concerns. This ‘Planet and Profit’ approach translates into less carbon emissions, great fuel savings and a way to deal with increased anti-idling regulations. We look forward to translating this buy-in from the investment community into even greater success in 2017.”
As the market leader in designing, developing and manufacturing solar-based power systems for the commercial trucking, RV, and Marine industries, eNow’s solutions are known for their durability, superior power, low cost and quick return on investment. Over the past several years, eNow has made great progress within the transportation industry, including partnerships with industry leaders such as Dometic Group, Mitsubishi Fuso, Freightliner, Navistar, IdleAir and Vanner. The eNow solar solution is sold through OEMs and Aftermarket Dealers.
“With this Series A round of financing, eNow can further deploy resources to expand its market share through its exciting lineup of products,” said Board Member Bud Stoddard. “eNow has the ability to transform the transportation industry with its advanced energy management systems.”
eNow’s proprietary solar panel systems use the latest in technology to capture and convert the sun’s energy into useable power. The transportation industry can use this “clean renewable energy”, thereby reducing operating costs and reducing greenhouse gas emissions. Whether you are an OEM, fleet owner, an owner operator or a driver, eNow is the energy solution for the transportation industry. Our goal is to help the industry become more profitable, enhance the driver experience and improve the environment. eNow solar panels capture energy to power HVAC, refrigeration, lift gate, battery charging, and safety lighting. www.enowenergy.com