New Energy Equity LLC said it closed on a major investment from private equity firm SmartPitch Ventures.
The investment gave the firm a controlling stake in the renewable electricity provider.
Financial terms of the deal were not disclosed.
Fairfax, Va.-based SmartPitch Ventures invests in later-stage businesses with a focus on disruptive technologies in the energy sector.
Rubicon Capital Advisors was the financial adviser and K&L Gates LLP was the legal counsel to New Energy. Akin Gump Strauss Hauer & Feld LLP and Seale & Associates advised SmartPitch Ventures.