Ygrene Raises $30M, Appoints COO
Ygrene Energy Fund, a provider of property assessed clean energy (PACE) financing, raised $30 million in growth capital from Virgo Investment Group. Ygrene will use the funds to grow its channel contractor network, further expand its national footprint, and accelerate market awareness for PACE financing.
The company appointed Mike Cary, former president of CIT Home Lending, as chief operations officer in a newly created position to immediately execute on its growth initiatives.
Ygrene partners with local governments to provide PACE financing to property owners to make energy upgrades to their buildings. Ygrene’s 100 percent financing allows owners to finance improvements at lower monthly costs and with many tax advantages not available through traditional financing options.
Ygrene currently partners with more than 100 cities and counties in California and Florida.
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