citybiz+ Indra Energy Secures $20 Million in Debt from Pathway Capital

Indra Energy, a Philadelphia-headquartered power utility, has raised $20 million in debt from Pathway Capital, according to Crunchbase.

The company operates in Washington, D.C. and eight states — Delaware, Illinois, Maryland, Massachusetts, New Jersey, Pennsylvania and Virginia. It provides power services in a total of 48 markets.

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Robert Palmese serves as Indra Energy’s president. He also runs Columbia Utilities and PALMco Energy, both family-operated companies in New York. Palmese is an alumnus of Georgetown University, where he earned a bachelors degree with a double major in finance and management.

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Michelle Hofstetter serves as Indra’s chief financial officer. She has previously worked at Direct Success and The Halo Group.

New York-based Pathway Capital specializes in debt financing, offering ways for firms to shore up working capital and other financial needs. Its team consists of Glenn Thomas, who specializes in transportation, logistics and manufacturing; Thomas F. Ravert, a 34-year veteran who has financed over 3,000 real estate loans worth over $4 billion; and Adam Jutte, is an analyst and underwriter.