NG Advantage, WindSail Capital close on $5 million in growth capital

NG Advantage LLC and WindSail Capital Group LLC today announced closing of a $5 million credit facility. The funds leverage NG Advantage’s rapidly growing base of customers and will allow the company to service additional orders for trucked compressed natural gas ‘beyond the pipeline’across New England and New York.
Vermont-based NG Advantage delivers the lower cost and environmental benefits of natural gas to large energy users in the northeastern U.S. that have no access to natural gas pipelines. WindSail Capital Group is a Boston-based investment firm that provides flexible growth financing to the clean energy industry.
Seasoned entrepreneurs Tom and Mary Evslin founded NG Advantage in 2011. Tom Evslin is Chairman of the company. ‘We are very pleased to be working with WindSail Capital Group to fuel our next stage of expansion,’said Evslin. ‘Their experience in the energy industry and creative financing approach make them a great partner for us.’
Co-founded by former Massachusetts Energy and Environmental Affairs Secretary Ian Bowles and private equity investor Michael Rand, WindSail Capital provides creative lending solutions to rapidly growing clean energy companies. The $5 million credit facility for NG Advantage is WindSail’s fourth investment.
‘With average savings of 30-40% for major industrial customers and annual emissions reductions equivalent to more than 15,000 cars, we see NG Advantage as providing exceptional economic and environmental benefits to consumers and the region as a whole,’said Bowles. ‘NG Advantage is a great fit for WindSail. The company has strong leadership, a sound execution plan, long term customer contracts and a tremendous value proposition.’
NG Advantage operates its first compressor site in Milton, Vermont, and is currently serving four customers, which include large paper mills and asphalt plants. The company expects additional compressor sites to come online in 2013 and 2014. With the addition of WindSail’s funds, NG Advantage has raised more than $10 million in the last six months to support its aggressive growth.
‘We are now at a turning point of having demonstrated our company’s model, value proposition, and the environmental benefits of the services we provide,’said Neale Lunderville, Chief Executive Officer of NG Advantage. ‘Now we have significant additional funds to expand our ability to meet rapidly growing customer demand.’
MILTON, Vt.--(BUSINESS WIRE)--NG Advantage LLC 7.11.2013