Today, Columbia Green Technologies (CGT), provider of eco-technology for green roof systems, announced it raised US$1.2 million in its latest round of funding. The funds will be used to enhance the company’s abilities and operations by focusing on R&D, as well as boosting sales and marketing efforts. This investment in CGT signifies the importance and rapid adoption of green infrastructure in the U.S., which is experiencing fast expansion driven by environmental legislation and fact that many cities are now actively addressing stormwater challenges.
Green Roofs for Healthy Cities (GRHC), the largest U.S. member organization dedicated to the development of green roofs, announced in May that the U.S. industry grew by 115 percent in 2011; this is up from 28.5 percent growth rate recorded in 2010. The green roof market is projected to grow to US$525 million by the end of 2012.
CGT, provider of the most comprehensive vegetative roof system that helps manage the quality and quantity of stormwater, energy use, and air and water pollution, plans to invest the funds to increase its workforce to help grow in scale and enhance innovation efforts. The new round of funding, which was oversubscribed, shows great momentum for CGT along with the addition of new investors, including The Ashforth Company. Earlier this year, the company announced the opening of a new office in Boston to support the eastern and central territories. In addition, the organization launched its new website, appealing to the growing number of customers globally.
“The Ashforth Company is excited to invest and partner with Columbia Green. Building on more than 115 years of real estate experience along with our extensive real estate holdings and contacts, we look forward to helping Columbia Green expand with their exciting and important innovations,” said Hank Ashforth, Executive Vice President, The Ashforth Company.
Besides the many benefits of using green roofs and Low Impact Development (LID) design strategies like rain gardens and pervious pavers to save money, reduce energy use and flooding, and keep people healthy and water clean, it also is a job growth industry.
According to a recent report by American Rivers, Water Works, an investment of $188.4 billion in water infrastructure–the amount the Environmental Protection Agency indicates would be required to manage stormwater and preserve water quality–would create nearly 1.3 million direct and indirect jobs and result in 568,000 additional jobs from increased spending.
“I want to congratulate Columbia Green on its latest round of funding,” said Oregon Governor John Kitzhaber. “Oregon is proud to have companies like Columbia Green, who are leading us to an economy of innovation and creating good jobs here at home.”
About The Ashforth Company
Headquartered in Stamford, CT, The Ashforth Company is a 116-year-old diversified real estate operating company that owns, develops, and invests in assets on the East and West Coasts, and provides third party services including asset and property management, general contracting, and construction management. Directly and through its affiliates, the company owns/manages over seven million square feet of office space nationwide.
About Columbia Green Technologies
Columbia Green is an Eco-Technology Company whose core technologies are based in vegetative roofs and sustainable functions that help manage the quality/quantity of stormwater, energy use, and air/water pollution. Cities across the world are using vegetative roofs to manage these environmental issues. Columbia Green is a USA manufacturer–delivering product through both domestic and international channels to meet these needs.
SOURCE: Columbia Green Columbia Green Technologies
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