Ampion PBC Closes $10M Series A Preferred Stock Financing
Technology Venture Partners leads Series A Preferred Stock investment to accelerate Ampion's leadership in Community Solar and Renewable Energy
16 Feb, 2021, 07:00 ET
BOSTON, Feb. 16, 2021 /PRNewswire/ -- Ampion PBC, the revenue-management software platform solution for Community Solar and other Distributed Generation Assets, today announced it has completed a $10M Series A Preferred Stock financing. The investment, provided by Technology Venture Partners (TVP), will support and finance the company's accelerating growth. In addition to providing the financing Managing General Partner, Bryson Hollimon and General Partner, Don Bossi will join Ampion's Board of Directors.
The Series A Preferred Stock financing concludes an exceptional year for Ampion, highlighted by significant growth in the burgeoning market of distributed renewable energy. Ampion's solutions for ensuring the long-term revenue of these assets include initial acquisition of subscribers and ongoing management of billing and payment. This investment allows Ampion to expand its subscriber acquisition organization, broadening its reach across markets, and increases investment in the company's leading revenue-management software platform designed to meet the needs of enterprise clients, thereby further extending Ampion's unique position in the marketplace.
"It has taken five years for this market to coalesce," said Nate Owen, Founder, Chairman and Chief Executive Officer of Ampion, "and the momentum that we are seeing across the market is astounding. This investment allows us to better support our clients who are expanding aggressively. Our solution is well-positioned for professional operators of Distributed Generation and Community Solar who want a reliable partner with an enterprise-technology mindset."
"We found Ampion's technology position and business model to be compelling from the beginning," said Bryson Hollimon, Managing General Partner of Technology Venture Partners. "They are led by a highly experienced management team with a big vision on how to support the significant growth taking place in this market. We are enthused about the opportunity to invest and support the Company with the resources they need to execute on that vision."
Ampion is a market leader in the Community Distributed Generation (CDG) industry. Ampion manages hundreds of megawatts of CDG assets, serving residential, commercial and anchor customers. Ampion's software platform provides compliant acquisition and revenue management functionality to CDG asset owners, while also providing advanced billing and sustainability reporting to small and large CDG subscribers.
About Technology Venture Partners
Technology Venture Partners is driven to transform unique, high-potential technology companies into successful businesses and market leaders. Our focus on growth-equity investments in the technology sector allows us to use our financial expertise, industry knowledge and strategic insight to provide guidance to entrepreneurs and company leaders in building successful, market-leading organizations.
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