Ethical Electric, a renewable energy provider that connects consumers to 100% renewable energy in minutes with no change in their monthly payment routine announced $11 million in Series A funding confirmed on December 31, 2013. The service is available in Delaware.
A syndicate of investors led by entrepreneur and impact investor Matthew Palevsky leads this funding round. Palevsky will also join Ethical Electric’s board of directors.
“Our business model offers the potential to shift a significant number of households to renewable energy sources and help transform the energy industry in the United States,” said Tom Matzzie, founder and CEO of Ethical Electric. “We are proud to be backed by investors who see the potential to give consumers a clean, renewable choice for their energy.” Tom was formerly a leader with MoveOn.org. “The Ethical Electric team is applying their experience building large-scale progressive movements to disrupt incumbents in the energy sector,” said Palevsky. “The company has a compelling, scalable business plan and the right team to make it work.”
