BlocPower Energy Services
greener, smarter, healthier buildings
May 14, 2021
May 14, 2021
BlocPower LLC is a Brooklyn-based climate technology startup that is making American cities greener, smarter and healthier. BlocPower partners with utilities, government agencies, and building owners to identify unhealthy, energy-wasting buildings to retrofit. The company then works with these building owners to develop, install and finance targeted energy saving improvements. BlocPower gets paid via installation profits, financing fees, and enterprise contracts. The Climate Impact Note will fund a portfolio of already vetted energy retrofit projects from BlocPowers pipeline, some of which are already constructed and complete.
Since its founding in 2014, the company has retrofitted more than 1,000 buildings in disadvantaged communities in New York City, with projects underway in 24 cities. Blocpower LLC, the owner of BPES3, has raised $68 million from the worlds top investors including American Family Insurance Institute for Corporate and Social Impact, AccelR8, The Goldman Sachs Urban Investment Group, Kapor Capital, Elemental Excelerator, CityRock Venture Partners, Hatzimemos/Libby, The Schmidt Family Foundation, Salesforce Ventures, Andreessen Horowitz, MaC Venture Capital, Exelon, Echoing Green, and the New York Ventures of the Empire State Development Corporation. BlocPower is electrifying buildings much like Tesla is electrifying cars. By eliminating their use of fossil fuels and making them smarter and healthier, were increasing the health and wealth of building owners and occupants and creating economic opportunities in underserved communities. - Donnel Baird, BlocPower CEO