Funding: $3 Million More For Large-Scale Geothermal Contractors, Enlink Geoenergy
A new SEC filing revealed today that Los Angeles-based clean energy business, Enlink Geoenergy Services raised $3 million more from Craton Equity Partners to build large-scale, geothermal systems for businesses and government institutions.
Here’s how the heat pump technology that’s most frequently installed by Enlink Geoenergy works, according toThe Union of Concerned Scientists:
“Ground-source heat pumps take advantage of the constant year-round temperature of about 50°F that is just a few feet below the ground’s surface. Either air or antifreeze liquid is pumped through pipes that are buried underground, and re-circulated into the building. In the summer, the liquid moves heat from the building into the ground. In the winter, it does the opposite, providing pre-warmed air and water to the heating system of the building.”
Enlink Geoenergy’s chief excutive, Mark Mizrahi, wrote in a December 2010 guest post for the environmental blog Cleantechnica.com, that geothermal energy systems could contribute 34 of 40 points required for LEED certification in commercial buildings.
As companies and government institutions strive to meet federal and local goals, or qualify for rebates and incentives, for operating LEED certified, or Net Zero buildings — which means that the building produces at least as much energy as it consumes, and produces no carbon emissions — Enlink Geoenergy anticipates significant growth, according to the company website.
TechCrunch called Enlink Geoenergy and its investors for further details about where they plan to apply this new round of funding.