Optimum Energy recently closed $10 million of a $20 million round to expand the sales of its energy-efficiency platform, which cuts the cost of commercial cooling. Cooling in large buildings can account for up to half of total energy costs.
The OptiCx platform provides real-time dynamic commissioning for large commercial HVAC systems, from the chillers to tower fans to pumps and valves. The algorithms regulate airflow while using less of everything, from fan power and chilled water to heating energy.
The system is modular so clients can pick the level of implementation that is right for them, whether it's just energy savings and predictive analytics or deeper HVAC optimization for chiller plants. Previous investors include Johnson Controls, Columbia Pacific Advisors, Navitas Capital and Edison Energy.
On the smaller side of the commercial market, EnTouch Controls has raised $1 million of a $6 million series C financing round for its energy-management-as-a-service platform for small and medium-sized businesses.
In the first half of this year, the Richardson, Texas-based startup acquired more than 1,000 customers and doubled its revenues from the previous year. It has also partnered with Texas energy retailers such as Reliant to serve as a platform for demand response for small and medium-sized businesses.
EnTouch’s focus is chain retail and restaurants, the latter of which have particularly high energy costs per square foot. National chains such as TGI Fridays, Chuck E. Cheese, Pizza Hut and JCPenny have chosen EnTouch. Investors include Trailblazer Capital, SJF Ventures and NRG Energy, which owns Reliant.
Focusing on utilities looking for a software-based solution for their energy-efficiency programs, the firm EnergySavvy just raised another $3.6 million in debt financing from existing investors for its enterprise energy-efficiency software.
The Seattle-based company has an online audit tool, also available now in a paper format for hard-to-reach customers. The platform also brings all stakeholders participating in the program into one platform, from utilities to contractors to customers. Investors include El Dorado Investment, EnerTech Capital, Element 8, Prelude Ventures and Pivotal Investments.
Down on the residential side of energy efficiency, Ecovent recently raised nearly $7 million for its learning home air vents. The company claims it has more than $1 million worth of preorders.
The system replaces zoned air systems with sensors, algorithms, mobile control and wireless vents that allow each room of a house to have its own temperature setting, rather than relying on larger zones. Emerson Climate Technologies, the HVAC arm of global giant Emerson, led the $7 million round.