RBS Citizens has provided $1 million in funding to eNow, a clean-energy transportation technology company based inWarwick, RI, to finance the company’s continuing growth. eNow develops and manufactures solar-based auxiliary power systems for the transportation industry.
With the funding provided by RBS Citizens, eNow estimates it will create 10 new full-time jobs, nearly doubling its workforce.
“RBS Citizens worked with us very closely to understand both our technology and our business. We look forward to working with them as we execute on our growth strategy,” says Jeffery C. Flath, President and CEO of eNow. “With several million vehicles in our target market across the United States, our technology will enable customers to comply with regulatory requirements while reducing their costs.”
“New jobs are always great news, especially when they are created by companies based inRhode Island,” says Ned Handy, President of RBS Citizens and Citizens Bank in Rhode Island. “Our relationship with eNow allows us to support their innovative technology as they grow their business and create jobs here in our state.”
eNow’s solar-based systems allow vehicles to power devices without idling, which lowers fuel use and emissions. Applications have been developed for medium and heavy-duty trucks, commercial buses, school buses and military vehicles.
eNow’s technology is already being used across the country and the company recently announced strategic marketing ventures with two national companies: Bergstrom, a producer of battery air conditioning systems for heavy trucks; and Mitsuishi Fuso Truck of America, Inc.