Modern Energy Raises $2.05M in Investment Funds

4/9/19

By Mackenzie Harris, NCBIZNews

Modern Energy International LLC, a Durham-based holding company, has raised $2.05 million, according to a filing with the Securities and Exchange Commission.

Modern Energy filed the Form D on April 9. The company intends to invest in energy companies with the proceeds.

Modern Energy is a holding company with businesses focused on energy efficiency, distributed generation, demand response and energy storage.

The company’s businesses identify emerging energy asset classes and leverage their differentiated knowledge, talent and capital to bring those asset classes to scale.

Modern Energy’s partnerships include American Efficient, Faro Energy and Tether Energy.

In 2018, Faro Energy, a distributed solar company, issued the first certified Green Bond for solar energy in Brazil.

Modern Energy is led by Benjamin Abram, the company’s managing director. Abram was previously employed at The Westly Group, a clean technology venture capital organization.

Abram is the son of Adam Abram, the former CEO of Chapel-Hill based James River Group Holdings Ltd.

In January, the company raised $3 million in equity, though it did not disclose how the company intended to use the money.

In 2017, the company raised $2.97 million in a venture capital fund and became a Certified B Corporation.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.

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