December 16, 2021

LAUNCH NY ATTRACTS & FUNDS CLEANTECH COMPANY FROM NORTH CAROLINA

LAUNCH NY ATTRACTS & FUNDS CLEANTECH COMPANY FROM NORTH CAROLINA

Breezi receives $100,000 in investment from Launch NY seed funds to expand in Buffalo

Buffalo, N.Y. – Launch NY, the first and only nonprofit venture development organization that provides seed capital and pro bono mentoring to early stage startups in the 27 westernmost counties in the state, has invested $50,000 from its nonprofit fund and $50,000 from its for profit Limited Partner Fund in Breezi, a member of Launch NY’s Emerging Cleantech Opportunity (ECO) Incubator. Bucking the trend for New York State businesses relocating south, Breezi was eager to take advantage of the resources provided in Western New York by the ECO Incubator and a local manufacturing partner offering co-location for Breezi’s pilot operations.

Breezi has developed Predictive Maintenance technology for Heating, Ventilation, and Air Conditioning (HVAC) systems. Their AirAssurance solution addresses the unique challenges facility managers face while operating commercial HVAC systems. Breezi keeps equipment running at peak efficiency and also manages operational and even occupant issues impacting comfort and indoor air quality.

“With companies like Breezi being attracted to our region, Western New York is showing its ability to grow its innovation economy and lead the way in cutting edge sectors like cleantech,” said Marnie LaVigne, PhD, President and CEO of Launch NY. “The investment we’ve made will support the scale-up of operations and completion of Breezi’s pilot manufacturing line here in Buffalo, as well as Launch NYs overall goal of growing the climate tech ecosystem in Upstate New York.”

“Like any startup, we’ve had to be very proactive in finding the best path for our business to gain traction, so we have been really fortunate to tap into the incredible network of resources for clean energy companies in New York State, including the ECO Incubator,” said Tim Seaton, Co-Founder and CEO of Breezi. “On top of mentorship for our business development and expansion into Western New York, this injection of funding comes at a critical time in setting up our manufacturing and getting our product into the market.”

Launch NY received the designation and annual funding for its ECO Incubator from New York State Energy Research and Development Authority (NYSERDA) in 2018. As the newest among six NYSERDA cleantech incubators, the ECO Incubator provides comprehensive mentorship, programming and capital access to more than 30 clean energy companies, with Launch NY supporting a pipeline of dozens more in this sector. This represents a growing cluster among the 300 plus companies Launch NY serves at any given time. The ECO Incubator serves among a network of NYSERDA programs to facilitate New York State’s climate tech goals, including those specified in the Climate Leadership and Community Protection Act, which are among the most ambitious in the country.

 

For more information about Launch NY, its programs, and other entrepreneurial opportunities, visit www.launchny.org, and follow Launch NY on Facebook, Twitter, and LinkedIn.

 

 

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About Launch New York:

The mission of Launch New York, Inc. (Launch NY), the only U.S. Treasury-designated Community Development Financial Institution (CDFI) directly providing venture funding to businesses in New York State, is to identify, support and invest in high-growth, high-impact companies that can transform the local economy and catalyze the entrepreneurial culture in the 27 counties comprising the western half of Upstate New York. Launch NY is a 501(c)(3) nonprofit venture development organization that promotes economic development through best practices, including high-quality pro bono business mentoring, while operating the most active seed fund in New York State that provides access to seed capital as part of an array of #InvestLocal financing programs designed to facilitate funding for investment-ready companies which have the promise to drive significant economic impact and jobs for our region.

 

Launch NY is headquartered in Buffalo and has co-locations with partner organizations in Binghamton, Ithaca, Rochester, and Syracuse. Since 2012, it has served over 1,319 companies, has more than thirty experienced local entrepreneurs-in-residence and its National Mentor Network of 2,000 industry, business and investment experts. Launch NY mentored companies, including 27% women-led and 26% minority-led startups, that have created 4,542 jobs, attracted over $1 billion in co-investment and follow-on capital after joining Launch NY, and generated over $159 million in annual revenues.

 

Launch NY’s #InvestLocal Financing Programs include a nonprofit fund, for profit limited partner fund, and Investor Network. The Investor Network includes opportunities for accredited investors to fund Launch NY portfolio companies of their choice for as little as $10,000 starting with a free sign up to join a community of over 180 members. Those funded by Launch NY’s nonprofit fund started in 2016 include 76 portfolio companies comprising 32% women-led and 28% minority-led, have created 436 jobs, attracted nearly $85 million after receiving funding from Launch NY, and generated over $22 million in annual revenues. Launch NY also leads the premier Emerging Cleantech Opportunity (ECO) Incubator, one of six designated clean energy incubators sponsored by the New York State Energy Research and Development Authority (NYSERDA), as well as the Founders Go Big program, an innovative diversity and inclusion initiative introduced in 2020.