27 May 2022
Carey Olsen advises clean energy startup Nextron Energia on Series Seed funding round
Carey Olsen's corporate team in the Cayman Islands have advised Brazilian clean energy distributor Nextron on its US$2.28 million Series Seed funding round.
Founded in 2021, Nextron connects renewable energy generators directly to consumers through its 'energy-as-a-service' cleantech platform marketplace and subscription plans. The startup facilitates access to renewable energy and currently has two photovoltaic plants, one in Mato Grosso do Sul and the other in Rio de Janeiro, with plans to supply enough energy for 36,000 consumers by the end of 2022.
Working alongside onshore counsel Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, the Carey Olsen team advising Nextron on the Cayman law aspects of its inaugural funding round was led by partner Alistair Russell, assisted by associate Trevor McCabe.
Alistair said: "Carey Olsen is delighted to have assisted Nextron Energia on its first funding round and introduction to Brazil's energy market. The start-up aims to innovate the way Latin America distributes energy by simplifying access through digital solutions and we're proud to have assisted the company on reaching this milestone."
The Series Seed funding round was driven by Valor Capital Group and greentech venture capital fund Barn Investimentos. Nextron will use the funds raised to invest in its technological and business expansion, product development and marketing to accelerate its growth in the Latam region.