Skyline To Receive $2 Million To Expand Solar Water Heating Efforts
Skyline Innovations Inc. has closed $2 million in mezzanine financing to fund its continued expansion. The company says the funding will increase its ability to provide underserved communities with solar and create local job opportunities in construction and project management.
CCM US LLC, a Washington, D.C.-based asset management group that invests in clean energy and real estate, led the investment. Co-investing with CCM is DC Community Ventures, a community development venture capital fund that invests in D.C. metro companies with significant profit potential that deliver financial returns to investors and social returns to local communities.
Skyline finances, installs, monitors and maintains commercial-scale solar hot water systems without upfront capital investment from customers. The company says its solar financing program enables businesses and multifamily buildings to go solar without taking financial or physical performance risks.