Angel-Backed Company Closes a $5.5 Million Equity Co-Investment
Founded in 2005, REGEN Energy (now Encycle) has been working hard to provide solutions to the ever-rising costs of energy. Their industry-leading wireless demand-management and demand-response solutions for commercial and industrial facilities has helped decrease those costs by 25-30%, making traditional inconvenient, costly and intricate solutions obsolete in their respective North American markets. REGEN’s journey has earned them a network of channel partners, considerable publicity and continued financial support from various providers. With a current workforce of 19 people, REGEN Energy has plans to expand their existing workforce by seven to ten more in the near future.
In 2007, REGEN Energy received their first round of investment financing from members of Maple Leaf Angels (MLA), a Toronto-area non-profit Angel investor group that receives ongoing support from Ontario’s Angel Network Program. Initially, the company consisted of just three employees, an idea, and a desire to make a difference. MLA provided this early-stage company with smart and patient capital. Like most start-ups, the years leading to growth tested many of the individuals directly involved with the company. The company has therefore benefited from guidance and mentorship provided by members of MLA. In particular, MLA’s then-Chairman Ken Paige represented the Angels’ interest by becoming a board member.
Subsequent to the second round of investment provided by MLA’s members, those who participated in a mentorship capacity continued to support the company in their pursuit of Venture Capital financing. In September 2011, REGEN Energy closed a $5.5 million equity co-investment with a cleantech investor, NGEN Partners, and BDC Venture Capital.
Today, REGEN Energy continues to grow their operations, marketing efforts, strategic partnerships and value-added services for their customers.
ABOUT REGEN ENERGY
REGEN Energy™ is a technology company that is transforming the energy efficiency landscape. REGEN set out to develop a sophisticated new energy management technology based on a concept called ‘swarm logic’, and bring it to market. This innovative idea led to the launch of a company that has been able to grow and position itself for a strong future in the energy technology marketplace.