Viridity Of Conshohocken Announces New Funding By Braemar

By Philadelphia Business Journal

Viridity Energy Inc. said Monday it has raised a second round of venture capital in a financing led by New York and Boston-based Braemar Energy Ventures and joined by Intel Capital, the venture-capital arm of Santa Clara, Calif., chip maker Intel Corp.

Viridity, a Conshohocken, Pa., provider of software and services used by building managers and others to manage their energy consumption, didnâ¿¿t say how much it raised in the funding, which it will use to accelerate its growth.

Scott DePasquale, a partner at Braemar, joined Viridityâ¿¿s board of directors.

Viridity was approved for a $350,000 investment from Ben Franklin Technology Partners of Southeastern Pennsylvania in November.

In October, it got a $1.66 million grant from the California Public Utilities Commission for a project on the University of California, San Diego campus that is meant to boost the economic feasibility of deploying solar power in the Golden State.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/philadelphia/news/2011/01/10/viridity-of-conshohocken-announces-new.html?ana=thestreet

Copyright bizjournals.com 2010

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