DENVER, CO, RavenBrick has secured a $5 million round of equity funding from an affiliate of Aravaipa Venture Fund of Boulder.
Denver-based RavenBrick has secured a $5 million round of equity funding. The investment, from an affiliate of Aravaipa Venture Fund of Boulder, enables RavenBrick to build its automated production line and begin large-scale fabrication of the company's patented RavenWindow solution.
"In any structure, windows are the weakest link and the largest consumer of energy," said RavenBrick CEO Alex Burney. "Commercial and residential demand for the next generation of energy-efficient window technology is expected to be $1.7 billion by 2017, and RavenBrick's new Denver production facility will be ready to meet that demand."
RavenWindow is the only cost-effective dynamic window solution that reduces energy use by more than 30 percent, by capturing and using heat in cold temperatures and reflecting heat when temperatures rise.
"Unlocking the potential of building energy efficiency is one of our top initiatives," said Paul Scharfenberger, Finance Manager of the Colorado Energy Office (CEO). "We selected RavenBrick to receive a loan from our Revolving Loan Fund because its technology is driving significant advancements in the next generation of efficient building products and the company is poised to create a significant number of jobs in Colorado."
"Denver has more than 300 days of sunshine each year, making it a perfect home and testing ground for RavenBrick's smart solutions," said Mayor Michael B. Hancock, whose Office of Economic Development provided early financial support to RavenBrick. "Innovative companies like RavenBrick that start in Denver and stay in Denver demonstrate our national reputation as a pro-small business, high-tech hub."
RavenBrick's automated facility will produce 1 million square feet per year of dynamic energy-efficient RavenWindow technology for use in commercial and residential windows.
Founded in 2006, RavenBrick is a Denver-based technology company, whose patented thermochromic filter solution, RavenWindow, is the only cost-effective dynamic window solution that reduces energy use by more than 30 percent. Commercial buildings are responsible for 40 percent of the energy used in North America, and RavenWindow technology is the essential next generation in energy efficient construction solutions. To learn more about RavenBrick, please visit http://www.ravenbrick.com
Founded in 2008, Aravaipa is the only EFFICIENCY-Tech Fund that focuses exclusively on low-capital-intensive early-stage ventures in Colorado. Aravaipa has already invested $7 million in seven portfolio companies - including RavenBrick. Beyond being focused on Efficiency-Tech and Local, Aravaipa is also uniquely in offering investor an Eyes-wide-open approach to investing into an existing portfolio with managers that are fully aligned with their investors - invested in the fund, no management fee with only a profit carry.
Tags: RavenBrick; Denver; smart window; intelligent window; dynamic window; energy efficiency; green building; green construction; green architecture; nanotechnology; clean tech; green tech; Colorado business; window filter; heating and cooling costs; solar-control window technology.
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