[NTG-context] Powerit Holdings, Inc., The Leader in Energy-Demand Management Systems, Completes Series A Financing Round - Joe Merlo
hamid.kamrani at gmail.com
Tue Jul 3 21:29:06 CEST 2007
What does this have to do with ConTeXt? Is this Spam mail?
On 7/3/07, paul.kholer paul.kholer <paul.kholer at gmail.com> wrote:
> Joe Merlo
> Powerit Holdings, Inc. the leading provider of intelligent, automated demand
> control & demand response systems for industrial and commercial buildings,
> today announced the successful completion of the company's "Series A" round
> of venture financing.
> Led by @Ventures with a $3.0 million investment, the $7.1 million round also
> included co-investor Expansion Capital Partners with $3.0 million and the
> balance from existing investors including Stellar Holdings and Company
> "This funding from @Ventures and Expansion Capital Partners, two recognized
> leaders in clean technology venture capital, will allow us to accelerate our
> growth and product offerings to meet the demands of a growing number of
> industrial and utility customers who need proven demand response and demand
> control energy management solutions to better control rising energy costs,"
> said Claes Olsson, CEO of Powerit Holdings.
> Powerit Solutions is especially well-poised to support the growth of demand
> response services to the electric utility industry. Their primary product
> solution, the Energy Director, is based on the principal that the best,
> cleanest and most cost-efficient way to obtain needed power during times of
> peak usage is to leverage the hidden inefficiencies that cause high peak
> demand. The Energy Director system automatically predicts, regulates, and
> reduces demand by carefully lowering the consumption from selected loads
> with precisely-timed curtailment actions and manages these actions in a way
> that it limits any impact to productivity or building comfort. As such, it
> is a system that is distinctively tailored to enable industrial & commercial
> users to meet challenging power savings goals and has been approved for
> demand response (DR) incentive programs by public utilities which have
> strong interest in finding reliable cost-saving and demand-savvy solutions
> for those challenging sectors.
> According to Olsson, sixty percent of all energy in the domestic U.S. market
> is consumed by commercial and industrial buildings. "Powerit systems reduce
> demand charges on an ongoing basis between 10- and 40-percent and can allow
> those previously savings-challenged industrial manufacturing companies to
> participate in demand response programs," he said. "Do the math. The
> financial benefits, measured by dramatically reduced demand charges and the
> opportunity to participate in DR programs, are substantial, often creating a
> project payback in the range of 1 to 18 months, - not to mention the
> benefits to local energy utilities struggling to keep power to their
> customers during peak usage periods."
> As part of the financing, Marc Poirier, Managing Director, @Ventures and
> Bernardo Llovera, General Partner, Expansion Capital Partners will take
> seats on Powerit's Board of Directors.
> "Powerit's technologies are uniquely-suited to meet the demanding needs of
> large industrial electricity users," said Marc Poirier. "By deploying
> fully-automated intelligent systems to help companies reduce their energy
> bills without hindering productivity, Powerit delivers strong economic value
> to its customers. And by helping utilities manage their peak-demand periods
> without increasing internal capacity, Powerit helps address the increasing
> demand for electricity while minimizing carbon emissions and other
> environmental impacts associated with power generation," added Poirier.
> "The combination of Powerit's exceptional energy management and demand
> response solutions, and its proven leadership in high technology innovation,
> are strong indicators that the company will continue to excel," said
> Bernardo Llovera. "We are impressed with Claes Olsson's track record of
> driving growth in companies like Powerit."
> Evolution Capital Advisors, a boutique investment bank serving
> entrepreneurial stage companies in energy, information, communications, and
> media technology markets, served as advisor to Powerit on the transaction.
> About Powerit Holdings, Inc.
> Powerit Holdings, Inc. (Powerit) is a global leader in intelligent,
> energy-demand management. Through its wholly owned companies, Powerit
> Solutions in the U.S. and Diana Control in Europe, Powerit helps
> organizations manage and reduce peak energy demand - saving money and
> conserving energy without compromising production and processing operations
> or building comfort factors. The company has hundreds of installed systems
> globally, many in industrial sectors that have high-energy demand, including
> mechanical fabrication and manufacturing, agriculture and food products,
> petroleum and petrochemicals, forest products, and primary metals
> fabrication, as well as in commercial and recreational facilities.
> About Expansion Capital Partners, LLC:
> Founded in 2002, Expansion Capital invests venture capital exclusively into
> expansion-stage, Clean Technology enterprises. The firm targets companies
> that offer dramatic improvements in resource efficiency and productivity,
> while creating more economic value with less energy and materials, or less
> waste and toxicity. Clean Technology Fund II, LP, invests in US and Canadian
> enterprises with current customer revenues of $2-30 million, combined with
> solid prospects of attaining $30-$100 million of revenues within 3-5 years.
> The fund makes initial investments of $3 million to $7 million, with its
> three Partners taking active, value-add board roles. Expansion Capital has
> offices in San Francisco and New York.
> About Stellar Holdings, Inc.:
> Stellar Holdings is a private international real estate investment and
> development firm headquartered in Seattle. Founded in 1989, Stellar has seen
> exceptional growth and currently owns and manages a significant portfolio
> while engaging in development projects in the Pacific Northwest, Sweden and
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