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Print Edition StoriesTuesday, January 19, 2010
Nexamp nabs $6.5M in new funding
By Mass High Tech staff
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Nexamp Inc., a Somerville-based renewable energy systems installer, has taken in $6.5 million in new equity funding, according to federal documents. This is the first funding on file with the U.S. Securities and Exchange Commission for Nexamp.
The company lists as its chairman Henri-Claude Bailly, CEO of clean energy investment firm RCG Ventures LLC of Boston. Noted in the new filing as a director of Nexamp is David Martirano, a general partner at Point Judith Capital. Martirano confirmed via phone that Point Judith is a backer of Nexamp in this new round, also confirming that Michael Ware has joined the board representing new investor Good Energies.
Calls to Nexamp executives were not returned as of early Tuesday morning.
In August, Nexamp announced it had completed the largest solar photovoltaic installation on Cape Cod at Oyster Harbors Marine in Osterville. The 57-kilowatt array consists of 276 solar panels on top of the marina’s 20,000-square-foot boat storage facility. The company estimated the solar array could power seven homes and will pay for itself in less than five years.
Nexamp, which has most of its operations based in North Andover, purchased NexGen Energy Solutions LLC, a renewable energy integration company, in December of 2007, for an undisclosed amount. NexGen Energy Solutions was founded by Daniel Leary, now president of Nexamp.
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