Rick Galipeau and Mike Santangelo, former owners of Northeast Energy Solutions, announced the launch of a new company, World Energy Efficiency Services, LLC.

The company, which purchased assets from the founders’ previous company, World Energy Solutions, raised capital from Commerce Bank and Massachusetts Growth Capital Corporation to help fund startup costs.

Galipeau will serve as World Energy Efficiency Services’ President, and Santangelo as Vice President.

The two principals were instrumental in forming Northeast Energy Solutions, an energy efficiency startup, in 2010, which was purchased by World Energy Solutions in 2011.

World Energy Efficiency Services offers comprehensive energy conservation measures, including lighting, energy management systems (EMS), HVAC, retro-commissioning and the installation of variable frequency drives (VFD). The company said that it is a preferred provider of energy efficiency services in several utility programs in the Eversource Massachusetts and Connecticut portfolio: NSTAR’s Direct Install Program for small businesses; NSTAR’s Municipal Program for government entities; WMECO’s program for small commercial and industrials; and the Small Business Energy Advantage (SBEA) Program for Connecticut Light & Power. In addition, World Energy Efficiency Services provides services for the SBEA Program for the United Illuminating Company.

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