$2M Credit Line for Sungevity

Sungevity, the Oakland, CA-based residential solar installation company that aims to become “the Amazon of solar electricity,” has received a $2 million line of credit from Bridge Bank, a subsidiary of San Jose, CA-based Bridge Capital Holdings, according to an announcement today. The financing will be used “to support and expand the company’s operations,” the announcement said. The borrowing comes close on the heels of a $15 million Series C funding round that closed last month, with Greener Capital, Firelake Capital, and Brightpath Capital Partners pitching in. “Sungevity is excited about placing our growing banking needs in the hands of Bridge Bank,” Sungevity chief financial officer Charles Ferer said in a statement. “Bridge has an experienced group of executives that understand the unique banking needs of the clean tech industry in general and solar in particular.”

Author: Wade Roush

Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco. Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.) I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia. I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats. My personal site: waderoush.com My social media coordinates: Twitter: @wroush Facebook: facebook.com/wade.roush LinkedIn: linkedin.com/in/waderoush Google+ : google.com/+WadeRoush YouTube: youtube.com/wroush1967 Flickr: flickr.com/photos/wroush/ Pinterest: pinterest.com/waderoush/