Green building technology startup BlocPower has raised nearly $25 million in equity funding and $130 million in debt financing to retrofit tens of thousands of apartments and other dwellings with climate-friendly appliances.
Donnel Baird, BlocPower’s founder and chief executive, said the money will allow the New York-based company to expand the reach of its software platform, BlocMaps, which identifies buildings in need of retrofits and recommends the best technologies to lower greenhouse gas emissions. The company sells the platform to municipalities as software-as-a service. Once retrofits have been identified, BlocPower coordinates and finances the replacement of fossil fuel boilers, furnaces and water heaters with high-efficiency electric devices in multi-family dwellings and other buildings. It also manages the installation of solar panels.
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