Makad Energy raising $2.25M
By Christina Williams
Editor, Sustainable Business Oregon
Makad Energy acquired an exlcusive license to PowerMand's DreamWatts technology in Janurary.
Makad Energy LLC is raising $2.25 million through a private equity offering, according to paperwork filed with the Securities and Exchange Commission.
The Vancouver, Wash.-based company, which focuses on developing renewable energy and other related projects, declined to comment on the fundraising.
"It's a private offering," said Tawni Camarillo, vice president for Makad. She referred questions about the company's current operations to the company website.
Makad announced in January that it had acquired an exclusive intellectual property license agreement with PowerMand Inc., a Vancouver startup that was playing in the smart grid space. PowerMand's DreamWatts energy management technology was the main asset in that deal. Makad said it would further develop the DreamWatts technology.
Dan Russell, PowerMand founder, is listed as a director at Makad Energy on the SEC filing.
In addition to energy management technology, Makad Energy has a long list of additional energy-related projects in the region including:
- Northwest Renewable LLC, a woody biomass facility in Longview, Wash.
- US Ethanol LLC, an ethanol production facility in Longview, Wash.
- Morrow Power LLC, a gas-fired electric production facility in Boardman.
Makad Energy was formed in 2009 as a subsidiary of Makad Corp., a private project development company led by CEO Elie Makad.
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