Carbonetworks Announces First Close of $5 Million Series A Financing Round



    
    Funding enables company to support growing demand for greenhouse gas
    emissions management software and services

    
    VICTORIA, British Columbia, July 21 /CNW/ -- Carbonetworks Corporation, a
pioneering provider of enterprise greenhouse gas emissions management software
and services, today announced the 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 leading cleantech venture funds.
    The capital raised strengthens Carbonetworks' ability to support the
growing global demand for its software and services. At present, the company
is helping over 180 organizations in 23 countries create and manage their
greenhouse gas emissions strategies. Customers come from a range of
industries, including energy, financial, materials, manufacturing, offset
project providers and governments. In the coming months, Carbonetworks expects
to significantly expand its operations.
    "We have a particularly aggressive growth plan in a nascent and rapidly
growing market," said Michael Meehan, President & CEO of Carbonetworks
Corporation. "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. We are very happy to have raised a
significant portion of our financing with a leader in cleantech investments
like NGEN Partners."
    "We see a great opportunity for Carbonetworks in the rapidly growing
carbon industry and believe the company is well positioned to be a global
leader in emissions software and services," said Rosemary Ripley, Managing
Member of NGEN Partners.
    
    About Carbonetworks
    
    Carbonetworks (http://www.carbonetworks.com) is a leading provider of
enterprise software which is helping over 180 organizations in 23 countries
create effective greenhouse gas emissions strategies. The company provides
executive-level software to manage emissions inventories and support decisions
made anywhere in the organization or supply chain, bringing bottom-line
analysis to corporate GHG strategy. Carbonetworks is based in British
Columbia, Canada.
    
    About NGEN Partners:
    
    Founded in 2001, NGEN Partners (http://www.ngenpartners.com) is a
pioneering investor in the cleantech sector. The firm invests in early to late
stage businesses that offer economically valuable products and services that
positively affect the environment. With a history in materials science, NGEN
has deep expertise in alternative energy, energy efficiency, pollution
abatement and green resources. NGEN has offices in California and New York.




For further information:

For further information: Kathy Porada of Weber Shandwick,
+1-425-452-5422, kporada@webershandwick.com, for Carbonetworks Corporation Web
Site: http://www.carbonetworks.com, http://www.ngenpartners.com

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CARBONETWORKS CORPORATION

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NGEN PARTNERS

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