Home energy solutions provider Elevation raises USD 20m

US residential solar and smart energy monitoring company Elevation has secured USD 20 million (EUR 18.8m) from private equity management firm Bernhard Capital Partners to continue the expansion of its clean energy technology platforms.

The funds were raised through a convertible note offering, Elevation said in a statement on Monday.

Founded in 2014, the company offers a "whole-home solution" that includes solar energy generation and storage, preceded by an energy efficiency audit on the customer's home. In addition, the company’s Curb platform connects to the home’s electrical system to give real-time data about energy consumption.

The latest deal follows previous preferred stock and convertible note investments by Bernhard Capital in March 2022 and March 2023, respectively.

“We appreciate Bernhard Capital's continued support as we work to expand access to our renewable energy solutions and Curb platform for homeowners, single-family rental households and utilities nationwide,” Elevation’s CEO Clayton Andersen said.

(USD 1 = EUR 0.943)

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