CAMBRIDGE, MA--(Marketwire - January 7, 2011) - Sustainability Roundtable Inc. (SR Inc), the market leader in shared-cost research and consulting on best practices for more sustainable facilities, today announced it has secured $1.2 million in Series A financing. Navitas Capital led the round, with participation from the Massachusetts Green Energy Fund (MGEF).
The funding will allow SR Inc to scale its product portfolio in response to the growing market demand for its value-add research and services and expand its business development. James Pettit, Managing Partner of Navitas Capital, will join SR Inc's board of directors.
"A growing number of the world's best run companies are turning to SR Inc and requesting ever more data on what is proving to work best in the move to higher performance and greater sustainability," said James Boyle, CEO and founder of SR Inc. "This strategic investment accelerates SR Inc's ability to meet more of these companies' growing needs and will enable SR Inc to select many more leading companies and public agencies to participate in SR Inc's shared-cost research and consulting. This is a terrific day for SR Inc's world-leading members."
With more than 1 billion square feet of real estate represented, SR Inc's flagship Sustainable Corporate Real Estate Roundtable (SCRER) service is helping a growing number of leading global companies and public agencies drive greater energy efficiency, resource productivity, use of renewables and sustainability across existing owned and leased real estate portfolios.
"My team and I have been impressed by SR Inc's impactful value-add regarding what works in more sustainable real estate world-wide; additional resources can only enhance their status as the 'go-to' organization for sustainability research," said Randy Smith, Vice President of Global Real Estate & Facilities at Oracle.
Kevin Kampschroer, Director of the GSA's Office of Federal High-Performance Green Buildings -- responsible for enhancing performance in the government's more than 300 million square feet of real estate -- observed upon joining SR Inc's shared-cost service: "GSA welcomes participation with the diverse group of firms assembled to drive towards a sustainable, clean energy economy. As GSA itself pulls toward a zero environmental footprint, we are eager to share our experience, research and data, and to take advantage of the collaborative private-public interchange that the Sustainability Roundtable offers."
According to a June 2010 study released by the United Nations Global Compact and Accenture, an "overwhelming majority" of corporate CEOs -- 93 percent -- say that sustainability will be critical to the future success of their companies. As businesses address the challenges of the current economic climate, sustainability is being increasingly recognized as a source of cost efficiencies, risk reduction and revenue growth.
"With a strong management team, a growing roster of world-class customers, and an industry-changing business model for high performance facilities management, SR Inc is uniquely positioned to drive best practices in sustainability with key corporate decision makers," said James Pettit of Navitas Capital. "As sustainability is inherently linked to energy efficiency, cost savings and the environment, we are seeing an increased recognition of the value of sustainability in the construction and operation of buildings."
About Sustainability Roundtable
Sustainability Roundtable Inc. (SR Inc) is private, mission driven, research and consulting company based in Cambridge, MA. SR Inc's mission is to accelerate the development and adoption of best practices in more sustainable business. Charter Members in SR Inc's Sustainable Corporate Real Estate Roundtable (SCRER) include: AAA, Adobe Systems Inc., Autodesk, BC Hydro, BNY Mellon, Brandywine Realty Trust, Brookfield Properties, Gensler, Harvard University, IBM, ING Clarion, Intuit, J.P. Morgan, McKesson, Mintz Levin, National Grid, National Institutes of Health, Normandy Real Estate Partners, Oracle, UGL Unicco, Unum, USAA Real Estate Company, U. S. General Services Administration and Visa Inc. For more information, visit: www.sustainround.com.
About Navitas Capital
Navitas Capital is a cleantech venture capital firm focused on energy efficiency and the built environment. Areas of focus include sustainable building materials, energy efficient building systems, and building information and software services. Navitas has been one of the early and driving forces behind several of today's leading green building technology companies, including Serious Materials, Lunera Lighting, and ARXX. For more information, visit: www.navitascap.com.
About the Massachusetts Green Energy Fund (MGEF)
The MGEF is a venture capital fund that focuses on Massachusetts clean energy companies. The fund capitalizes on the growing leadership of Massachusetts in the cleantech industry and the importance of the state's academic and corporate R&D in contributing to the formation of clean energy technology companies. MGEF management has extensive knowledge of the clean and renewable energy sectors and many years of experience investing in them. Portfolio companies include Greentech Media, Next Step Living, XL Hybrids, Konarka Technologies, Porogen Corporation, Bandgap Engineering, Big Belly Solar, Lilliputian Systems Inc, and Protonex Corporation. For more information visit: www.massgreenenergy.com.
Contact Information:
Media Contact:
James F. Boyle
President & CEO, Sustainability Roundtable, Inc.
617-682-3631