Main Street Power closes $5 million round

BOULDER – Main Street Power Co. Inc., closed Monday on a round of Series B funding, raising $5 million from a group of about 40 individual investors.

Main Street founder and chief executive Amory Host declined Tuesday to name any of the investors, but noted that about 90 percent of the funding was Colorado-based.

Boulder-based Main Street is a power purchase agreement provider that owns, operates and maintains solar assets on thousands of homes and hundreds of commercial sites in North America, leasing solar panels to residential customers and selling power to commercial customers.

“This is an industry that’s maturing and growing very rapidly,” Host said. “This allows us to position ourselves well as we continue our growth.”

The summer has been productive for Main Street in many ways. In addition to the funding, Main Street received B Corp certification, indicating its commitment to environmental and social returns in addition to profits. In conjunction, Main Street was given a Global Impact Investing Rating System status as a three-star global impact investment.

“We were proud we were recognized through this process,” Host said.

Main Street, founded in 2009, raised a $3.75 million Series A round of funding in 2010. Host said the new funding will be working, development and operating capital as the company continues to grow.

Main Street has plans to move its headquarters from 1245 Pearl St., to a space double the size at 4875 Pearl East Circle in November.

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