Syrcuit Energy Raises $6M Private Placement – Greeley Tribune

GREELEY – Renewable energy startup Syrcuit Energy Solutions Inc. has raised $6 million in a private placement, the company announced in a press release.

Founded in October 2021, Syrcuit will design and install renewable energy systems for commercial and industrial customers with large utility needs. It will specialize in solar and geothermal.

“This is a very welcome investment by our network and a momentous event for Syrcuit,” said Craig Rasmuson, Syrcuit CEO and founding partner, in a prepared statement. “This is a clear vote of confidence in our leadership team and our ability to navigate and thrive in the energy sector. This first round of funding will allow the company to advance its operations and be competitive immediately. Management believes that all types of energy resources, both traditional and renewable, are required to meet consumer demand and we look forward to continuing to build on our past successes in this region.”

Syrcuit plans to have its first installation under contract by Q3 2022. It plans to use the $6 million private placement to establish strategic partnerships, secure land for future development projects and for general working capital purposes.

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.

https://www.greeleytribune.com/2022/06/27/syrcuit-energy-raises-6m-in-private-placement/ Syrcuit Energy Raises $6M Private Placement – Greeley Tribune

James Brien

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