A syndicate of investors led by entrepreneur and impact investor Matthew Palevsky leads this funding round. Matthew's decade-long experience building large-scale, progressive campaigns to shift behavior makes him a perfect fit for the company's core strategy and mission. Palevsky will also join Ethical Electric's board of directors.
"Our business model offers the potential to shift a significant number of households to renewable energy sources and help transform the energy industry in the United States," said T om Matzzie, founder and CEO of Ethical Electric. "We are proud to be backed by investors who see the potential to give consumers a clean, renewable choice for their energy."
Investors believe in Tom's ability to apply his deep experience building cause-based communities to the task of expanding Ethical Electric's community of customers. Tom was formerly a leader with MoveOn.org and has aggregated millions of Americans together for causes for more than a decade.
"The Ethical Electric team is applying their experience building large-scale progressive movements to disrupt incumbents in the energy sector," said Palevsky. "The company has a compelling, scalable business plan and the right team to make it work."
"Tom has developed a very smart business plan and its success has the potential to drive adoption of renewable (solar and wind) energy faster than any other investment opportunity I have seen," said Brian Arbogast, a clean tech investor and current director at the Bill & Melinda Gates Foundation who led Ethical Electric's earlier investment round and serves on its board of directors.
