Zeta Communities Gets $5M Equity Infusion from Black Coral Capital
- Jul 14, 2010
San Francisco–Zeta Communities, a systems-building concern specializing in net zero energy (NZE) modular structures for multifamily housing, has just gotten a $5 million financial jolt from Boston-based renewable energy/clean-tech investor Black Coral Capital. With the equity financing from Black Coral, Zeta will be to expand its product line to accommodate developments beyond the multifamily market.
Zeta is all green. The company, which manufactures its energy efficient NZE structures at its clean-tech production facility, provides a product that minimizes CO2 emissions at a cost that is comparable to structures built in onsite.
Now, with the funding from Black Coral, Zeta will be able to expedite its plan to increase the reach of its product to the greater real estate market. The company will take its energy-efficient products to schools, public facilities, student housing, and mixed-use projects. The environmental impact is obvious, but it’s not all about energy efficiency. As is the case with any business, particularly in the current economic climate, it’s also about money, and time is money. Zeta’s modular structures allow developers to build quality properties while reducing holding costs by decreasing the length of construction schedules. Additionally, Zeta’s structures offer uniqueness factor that may very well give property owners an edge over competitors when the real estate market recovers. And as for economic recovery, jobs are the key and Zeta’s increasing pipeline of projects means an increasing pool of green manufacturing jobs.
“ZETA is a part of the future of U.S. clean-tech manufacturing and will prove that sustainable communities can be a reality,” Naomi Porat, CEO of ZETA Communities, notes in a prepared statement. “We are committed to driving the awareness of energy efficiency and working with progressive developers towards a sustained commercial and residential market recovery through significantly improved building efficiencies across energy, construction time, and economic metrics.”