OneEnergy Renewables Raises Capital

Source: John Cook, Geekwire, January 26, 2012.

OneEnergy Renewables, a Seattle startup that utilizes funds from its carbon offset and Renewable Energy Certificates program to bankroll new cleantech projects, has raised $1.3 million in funding from Northwest Energy Angels and others. According to a SEC filing, the company could raise an additional $1 million.

The company plans to use the money for the development of its Renewable Energy Certificates business (also known as RECs) as well as its own cleantech projects in solar, wind and biogas.

“OneEnergy Renewables provides RECs and carbon offsets to businesses and institutions, offering simple, meaningful, and affordable solutions to help meet renewable, and greenhouse gas goals,” the company notes on its Web site. “Using proceeds from your REC and carbon offset purchases, we work directly with landowners and other partners to develop new solar, wind, and biogas projects from concept to operation.”

OneEnergy is working on roughly 15 projects in the U.S, totaling about 300 Megawatts of clean energy power generation. Those include solar energy projects in Arizona and Ohio.

Separately, the company just rolled out a Renewable Energy Certificates program with the PaTu wind farm in Oregon.

Other programs include a methane digester, which is designed to create nearly five megawatts of clean electricity from the waste of more than 20,000 head of cattle.

Founded in 2009, the company is led by Bryce Smith. He previously served as the director of the Bonneville Environmental Foundation’s Project Management Group, where OneEnergy Renewables president Bill Eddie also worked.