The funds raised will go directly to fund energy efficiency, electrification or renewable energy projects—projects that have already been earmarked in New York and California. So you're probably wondering: why is a company that has raised over $100M in equity and debt financing raising on a community platform? Well, at BlocPower we offer no-money-down system leasing for building owners, covering all maintenance and repairs for the duration of the contract. This reduces barriers to entry, complexity, capital requirements, and technology risk for the customers.
However, it requires upfront capital needs in order to supply these systems to those that need them. The capital raised from ongoing community rounds supplements the financing needed for projects and allows investors to play a critical role in helping communities become more resilient.