Evergrow, a San Francisco-based provider of a platform for clean energy tax credits, has raised an additional $7 million in funding. This latest round, led by existing investors including First Round Capital, XYZ Venture Capital, Congruent Ventures, and Garuda Ventures, brings the total amount raised to $14 million.
The company plans to use the funds to expand the platform’s diligence, risk management, and transactional capabilities, allowing it to facilitate the financing of even more clean energy projects in the United States.
Evergrow, founded and led by CEO James Richards, aims to fund clean energy projects by financing clean energy tax credits. The platform enables developers, corporations, brokers, syndicators, and other market participants to transact in green tax credits, providing funding for new clean energy infrastructure projects.
Evergrow’s unique platform has already attracted over $150 million worth of clean energy projects that are expected to come online over the next year, showcasing the strong demand for sustainable energy and the role that tax credits play in financing it.
Speaking about the latest funding round, Richards said, “We’re excited to have the continued support of our existing investors as we work to expand our platform and fund more clean energy projects across the country. With this additional capital, we can further improve our capabilities and provide even greater value to our partners and customers.”
As the world increasingly focuses on clean energy, Evergrow’s innovative platform has the potential to become a significant player in financing the next generation of sustainable infrastructure.
Vinci Games announced successful closing of its seed funding round, raising $5.1 million
New rules deprive BMW, Hyundai, Nissan, Rivian, Volkswagen and Volvo cars of tax credit