SOURCE: Claremont Creek Ventures

January 06, 2010 10:06 ET

Clean Power Finance Announces First Close of $6.9M Financing to Expand the Leading Software Platform for Solar Installers

Financing Follows Adoption by Solar Provider Suntech, and Service Providers, Aon and precigeo

SAN FRANCISCO, CA--(Marketwire - January 6, 2010) - Clean Power Finance, Inc. (CPF) today announced the first close of a $6.9M financing round co-led by Claremont Creek Ventures and Clean Pacific Ventures, and joined by prior investors Sand Hill Angels and clean tech investor Gary Kremen.

CPF's web-based platform is currently the leading solution for solar installers. The company will use this funding to expand the software feature set and to extend recent successes in solar PV into other energy technology verticals.

Nat Goldhaber from Claremont Creek Ventures and Jeff Barnes from Clean Pacific Ventures will join CPF's Board of Directors.

CPF Tools is an enterprise-class cloud application that supports sales and marketing business processes for solar integrators, distributors and manufacturers. Since its introduction, CPF Tools has garnered enthusiastic reviews and currently supports over 30 percent of the solar installer community nationwide. CPF Tools drives provider efficiencies and enhances the customer value proposition, all in service of the company's mission to drive the adoption of renewable energy in the mass market.

"Solar and other renewable energy solutions will only be successful in the mass market when providers are enabled to present a clear, compelling value proposition to customers," said Joseph Brakohiapa, President and CEO of Clean Power Finance. "CPF Tools helps installers generate accurate quotes, professionally present energy and environmental benefits, and gain access to critical value-add services including verified leads, 3D roof analyses, third party financing solutions, automated completion of government forms -- and insurance solutions. By helping installers be successful, we drive the success of the green movement as a whole."

CPF recently announced partnerships with Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of crystalline silicon photovoltaic (PV) modules; Aon Corporation (NYSE: AOC), the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting; and precigeo, the premier provider of roof schematics and rooftop solar studies to the photovoltaic installer market.

"As the leading solution for solar installers, CPF is already the channel to thousands of renewable energy professionals," said Nat Goldhaber, Claremont Creek Ventures managing director. "I'm proud to be an investor in a company that is not only driving important value in the green space, but is also helping to turn renewable energy into a practical solution that can succeed in the marketplace."

About Clean Power Finance

Clean Power Finance is the leading provider of integrated software, services and financing solutions to the solar industry. Based in San Francisco, the company's mission is to drive the adoption of renewable energy in the mass market. Clean Power Finance delivers an end-to-end solution that supports sales and marketing business processes for integrators, distributors and manufacturers. Since its introduction, the CPF software platform currently supports over 30 percent of the solar installer community nationwide.

For more information, visit

About Claremont Creek Ventures

Claremont Creek Ventures turbo-charges the uncommon startup. As an early stage venture firm, Claremont Creek Ventures embraces emerging technologies to accelerate companies' success in three sectors: energy conservation, healthcare IT, consumer and security markets. Using their proprietary life-cycle venturing program, Claremont Creek partners with East-Bay corridor and other entrepreneurs with special ties to institutions including UC Berkeley, Lawrence Livermore Labs, UC Davis and Stanford University. Claremont Creek Ventures has $300 million under management in two funds from limited partners including the Harvard Management Company, the University of California and the Verizon Pension Fund. In addition to investing in Clean Power Finance, CCV investments include Adura Technologies, EcoFactor, Gene Security Networks, Shotspotter, and PropertyBridge, that was recently acquired by MoneyGram.

For more information, visit

About Clean Pacific Ventures

Clean Pacific Ventures is a venture capital fund that invests in promising early stage clean technology companies. Clean Pacific focuses primarily on clean technologies related to energy, water, carbon reduction, agriculture and materials. In addition to Clean Power Finance, the portfolio includes SunLink, Marrone Bio Innovations, Carbonflow and AquaGenesis.

For more information, visit

About Sand Hill Angels

The Sand Hill Angels is one of leading Silicon Valley angel investing groups where "Entrepreneurs Invest in Entrepreneurs". The 60 accredited members know what it takes for a company to succeed having done it themselves and they invest their money along with their personal experiences, network and time to help startups succeed. The group has invested in about 20 companies in the last 5 years focusing in the IT & Biotech spaces. Some investments include Vaxart, Zimbio and Ploom with a recent exit of BiPar by Sanofi-Aventis.

For more information, visit

About Gary Kremen

Gary Kremen is a leading clean technology angel investor. Clean tech investments include Greenbox (acquired by Silver Springs), Recurv (formally Sustainable Spaces), Enmetric, Solar Universe and People Power. He is a limited partner in 15 venture funds as well as an investor in more than 50 private companies. Before being a private investor, Kremen founded the following: Match.Com (world largest dating service), NetAngels (merged with Firefly Networks and sold to Microsoft), Sex.Com (sold in 2006 as the highest price domain name ever), and Los Altos Technologies (still in business for over 18 years).

For more information, visit

Contact Information

  • For More Information:
    Micah Myers
    Claremont Creek Ventures
    Jennifer Jones & Partners
    Email Contact