$5M funding: Carbonetworks closes financing round for greenhouse gas solutions support

By Manufacturing Business Technology Staff July 25, 2008

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.”