Enmetric Systems Attracts VC Attention to Plug-Load Building Management Space
Enmetric Systems, a Belmont, California-based company whose platform helps companies and large organizations monitor and reduce energy use from plugged-in devices, recently announced that it has closed a $1.5 million follow-on financing round led by venture capital firm Navitas Capital and included Azure International, Lakewest, Inc., and other angel investors.
Navitas Capital managing partner Travis Putnam had been on Enmetric’s board of directors since 2011 and Chris Raczkowski, managing director of Azure International, joined Enmetric’s board as an observer.
A new report from New Buildings Institute on plug-load management indicates that companies specializing in “plug-load management” may soon be facing a new demand for their services. The Energy Information Agency says devices plugged into outlets by the user are the fastest-growing energy consumers in commercial buildings, and often use up to 50% of an office’s energy after other energy improvements—to lighting, heating and cooling, and other appliances—have been made. The NBI report concludes: “The increased attention being paid to this source of energy use in facilities is resulting in new technologies, methods, and resources” to be used by building managers seeking to reduce plug loads.
Read the full story. (Clean Tech IQ)