NL-Based Smart Thermostat Company Secures $1.8M CAD Investment for Continued Growth and Innovation
St. John’s, NL — On Monday, October 5, 2020, Newfoundland-based smart thermostat company Mysa and its existing investors announced funding via a successful new investment with Export Development Canada (EDC). The new funding, totalling $1.8 million CAD in Series 4 Preference Shares under EDC’s Investment Matching Program, will fuel Mysa's continued growth as a leader in the global smart thermostat market.
Mysa Co-Founder and CEO Josh Green spoke of the positive impact the investment will have on the company’s growth trajectory: “2020 has been an exciting year for growth at Mysa. Welcoming Export Development Canada to our investor group is further validation that we have the right plan to scale our company and achieve our mission of fighting climate change through energy conservation. EDC’s investment, combined with other major funding announced this year, will allow us to continue hiring great people, expand our smart thermostat product offerings, and enter new domestic and international markets."
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all of EDC’s support is a commitment to sustainable and responsible business. “We are pleased to be supporting Mysa through our investment Matching Program as the company scales up to achieve its mission of fighting climate change through energy conservation,” said Carl Burlock, Executive Vice-President and Chief Business Officer at EDC. “We look forward to seeing the positive impact that Mysa has on the smart energy industry and on the environment as they grow into new markets.”
Mysa’s mission is to fight climate change by creating smart thermostats that help homeowners use energy more efficiently and save money. What began as Joshua Green’s final Mechanical Engineering assignment has become (with the help of his brother Zachary, COO and fellow Engineer) a leading employer in the tech sector in Newfoundland and Labrador and a rising star in the smart energy product industry in North America. Mysa’s diverse team is growing at warp speed (#nerds), as is their range of energy-saving smart thermostats for electric heating. Keep watching Mysa in 2020 and beyond as they make change comfortable by helping customers save energy and reduce their electricity bills.
To learn more, visit www.getmysa.com
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