SEATTLE--(BUSINESS WIRE)--Columbia Green Technologies, North America’s made-in-USA provider of green roofs company, has closed a combined debt and equity financing round led by Yaletown Venture Partners and involving several existing investors. The company will use the funding to expand sales, serving the rapidly growing North American green roof market.
“We are experiencing rising demand across North America and this financing will help us to expand our presence in key markets,” said Greg Love, Chief Operating Officer of Columbia Green. “We pride ourselves on providing a total solution. Our products were engineered to be simple to install, support plant health and maximize stormwater management; our team is excited to continue to invest in a product line that directly supports the evolving needs of our customers.”
The stormwater retention capability of green roofs is fueling rapid adoption as state and city governments provide economic incentives, such as tax abatements, rewarding builders and sharply cutting payback periods for green roof construction. According to industry association Green Roofs for Healthy Cities’ Annual Survey green roofs the market has sustained double-digit growth over the last ten years with over 20 million square feet, worth about $500M, being installed in 2013 alone.
“Green roofing continues to be a high-growth sustainable infrastructure market supported by municipal legislation and environmental benefits,” said Kirk Washington, General Partner at Yaletown Venture Partners. “This latest financing helps Columbia Green to increase market share in the local Pacific Northwest region and across North America.”
About Columbia Green Technologies:
Columbia Green Technologies Inc. is a made-in-USA green roof company with products that help manage the quality and quantity of stormwater, reduce energy use and costs, and reduce air and water pollution. Customers in cities across North America are using vegetative roofs for environmental, economical and urban aesthetic benefits. Columbia Green Partners with industry leading roofing and waterproofing manufacturers to provide single-source warranties. In 2013, Portland Business Journal ranked Columbia Green as the 13th fastest growing private company in Oregon and Lux Research identified Columbia Green as a dominant player in the green roof market. www.columbia-green.com
About Yaletown Venture Partners:
Yaletown Venture Partners invests in emerging-growth companies in Canada and US Northwest that develop technologies for the intelligent enterprise and sustainable infrastructure. With offices in Vancouver, Seattle and Calgary, Yaletown is led by a team that brings together industry relationships and more than 120 years collective experience building and financing technology companies. Founded in 2002, Yaletown is backed by leading institutional investors and a network of successful technology entrepreneurs, executives, and angel investors and has $140M under management. Find out more about Yaletown and our portfolio of companies at www.yaletown.com