Virginia

$2.6 Million in SEP Funding Leveraged to Provide $1.6 Million in Loans and Create 46 Jobs

$12 million
Private source financing leveraged by portfolio firms
 

$1.6 million
Commonwealth Energy Fund loans
 

46
Number of jobs created

 

In Virginia, the State Energy Office leveraged SEP funding and in partnership with The Center for Innovative Technology (CIT), launched the Commonwealth Energy Fund (CEF) to make loans to high-growth potential early stage Virginia companies capable of creating jobs, reducing energy usage, increasing energy generation from renewable resources, and reducing greenhouse gas emissions. The State Energy Office capitalized the Fund with $2.6 million in SEP funds, which leveraged $12 million of private financing associated with the firms in the portfolio. Forty-six jobs were reported created or retained by the companies and several of the businesses

Contact Information for the Virginia Energy Office