$5M funding: Carbonetworks closes financing round for greenhouse gas solutions support
Carbonetwork, a pioneer in enterprise greenhouse gas emissions management software and services, reports first close of its $5 million Series A round of financing. The funding was provided by NGEN II, L.P., part of the NGEN Partners group of "cleantech" venture funds.
Carbonetworks supports more than 180 organizations in 23 countries to create and manage greenhouse gas emissions strategies in energy, financial, materials, and manufacturing industries, among others. The increased capital will allow Carbonetworks to significantly expand its operations.
“We have a particularly aggressive growth plan in a nascent and rapidly growing market," says Michael Meehan, president & CEO, Carbonetworks.. "A major part of this plan includes investing in response to the growing market demand for carbon management services, and strengthening our ability to access and support customers."
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey