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Salem-based Groom Energy Solutions Inc., a provider of energy efficiency and renewable energy projects, announced Tuesday it has received a $2.6 million equity investment from a group of angel investors.
The group was led by Eyk VanOtterloo, founder of GMO LLC, a privately-held global investment management firm.
Groom Energy targets energy projects for the commercial and industrial markets, with customers including Bed, Bath & Beyond, General Electric, Ocean Spray and Thermo Fisher Scientific.
The company said the new funding will allow it to provide a financing model to customers for its energy-saving projects, providing projects with no initial cost to the customer, according to Groom. Projects can include energy-generating assets, such as cogeneration or solar photovoltaics, and energy efficiency upgrades, such as variable frequency drives or LED lighting, the company said.
Groom Energy also plans to accelerate expansion of its national engineering team with the new funding, and expects to open several new offices in 2011. In all, the company expects to deliver energy-saving projects for companies in more than 40 U.S. states and Canada.
Groom was founded in 2005, and spun out of Salem-based building contractor Groom Construction Co. Inc. Past customers have also included Hopkinton-based EMC Corp.
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