House of GreenTech Tops Off First Funding Round With Additional $714K and Appoints Katarina Bonde as Chairman of the Board

BALTIMORE, Feb. 1 /PRNewswire/ -- House of GreenTech LLC, a Swedish-American trading house for green technology and clean energy products and solutions from Scandinavia, today announced it has secured an additional SEK 5M (US$ 714,000) from Swedish investors to top off its seed capital, for a total of $1.1 million in funding. In addition, House of GreenTech has appointed entrepreneur and business leader Katarina Bonde to serve as its Chairman of the Board.

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“Raising additional capital in this tough economy illustrates how House of GreenTech offers a unique opportunity for investors in the green technology sector, with less risk,” says Peter Selemark, president of House of GreenTech. “Our customer-centric approach allows us to leverage current and future investments by focusing on real-time market needs and customer demand, rather than being limited by a single product,” adds Selemark.

The additional resources will enable House of GreenTech -- which kicked-off its U.S. operations in Baltimore, Maryland on January 1, 2010 -- to quickly build-up and expand in the U.S. market. House of GreenTech will rely on its parent company, Swedish contract sales organization SALESGEN, to line up suppliers of leading edge Scandinavian green technology products for sale in North America, ahead of the current market.

“Katarina Bonde will be a wonderful asset to the Board’s Scandinavian - U.S. network and her experience in growing small business in new industries is invaluable,” says Peter Selemark. Ms. Bonde joins SALESGEN president Anders Torelm, House of GreenTech president Peter Selemark, former U.S. Ambassador to Sweden Thomas L. Siebert and Par Arvidsson, IT entrepreneur and Olympic gold medalist in swimming, as a distinguished member of the House of GreenTech Board of Directors.

As Managing Director of Kubi LLC, Bonde combines a strong executive management background with extensive international business experience. Kubi engages in technology investments and international board and management consulting, in particular international expansion and mergers and acquisitions. Bonde also serves on several corporate boards, including Chairman of the Board of Aptilo Networks and of Propellerhead Software AB. She is Board Director of LBi International, Orc Software, eBuilder AB, The Sixth AP Fund (government pension fund), The Royal Swedish Opera, and serves on the Advisory Board to the Finance Ministry for Reduced State Ownership of Corporations. She holds a Master of Science in Physics and Mathematics from the Royal Institute of Technology in Stockholm, Sweden.

“I joined House of GreenTech as I have seen the potential for Swedish energy and environmental solutions in the USA. I believe it is extremely important to get these leading edge products to the U.S. market which will encourage energy efficiency in the US and help companies to profit and grow," says Bonde. “House of GreenTech has a wealth of experience in developing markets and sales channels, as well as in depth knowledge of these product areas,” she adds.

The company expects to attract a total of $2.1 million in investment capital during 2010. Its goal is to reach $70 million in revenues by 2015.

House of GreenTech is a Swedish-American trading house for green technology and clean energy products and solutions from Scandinavia. Beyond sales and marketing, it offers business development, project and export financing, manufacturing set-up, and product licensing services. House of GreenTech aims to improve the environment -- and its clients’ bottom line.  SALESGEN, the parent company, created revenues of SEK 300M (approx. US$ 43M) for its clients in 2008, its third year of operation.

Visit www.houseofgreentech.com

SOURCE House of GreenTech LLC