Start-up community solar firm poised for launch in Maryland and DC
Gary Skulnik, CEO and Founder of Neighborhood Sun Benefit Corp., announced today that the firm had successfully completed a recent round of funding from local angel investors. The infusion of capital gives the company the resources it needs as it begins operations in Maryland and the District of Columbia. Neighborhood Sun is a B-Corp with a mission to strengthen communities through local solar power projects that provide affordable energy and jobs. The amount raised was $390,000.
"We had an amazing response to our fundraising efforts, and we were oversubscribed in the round," said Skulnik. "The quality and depth of experience of our investors and advisors will help us grow the company and meet our mission-related goals."
William (Bill) M. Bumpers led the group of investors. A senior partner and DC Environmental Chair at a national law firm, he is joining the Board of Directors of Neighborhood Sun, along with Skulnik and co-founder Scott Nash, owner of MOM's Organic Market.
"I've been working on climate change for three decades. Companies like Neighborhood Sun, with their innovative approach to building community and supplying energy through solar power, are at the leading edge of true solutions," said Bumpers. "I'm thrilled at the opportunity to be involved with this company and have the opportunity to help guide it to a great future."
The company has been active in Maryland for a year, but the state's community solar market is just opening up this summer. The team at Neighborhood Sun is ready to focus on what they do best, acquiring and managing customers for community solar projects. Skulnik has been active in promoting clean energy solutions to climate change in Maryland and DC for two decades. He previously co-founded and ran Clean Currents, which was Maryland's first company focusing exclusively on clean energy.
Senior Advisor and investor John Paul Moscarella said, "Neighborhood Sun has a strong management team with a track record of acquiring and managing thousands of residential and commercial customers." He added, "This company can grow quickly in this new, and rapidly growing solar space."