“Manage your energy and assets enterprise-wide”
Investment Amount : $50,000 | Year : 2014 | Sector : Environment | City : Newton, MA
Whether it’s flicking on a light switch or plugging in a refrigerator, our current fossil fuel-based energy mix means that every watt of consumed energy comes with an associated cost to our planet and society. These costs arise in the form of climate altering gases such as CO2 and hazardous air pollutants from coal plant – all of which have strong, negative effects on public health. In response to this threat – and rising energy costs – many individuals and businesses have taken steps to reduce their energy use through increased efficiency, resulting in less harmful pollutants in our air. Unfortunately, smaller businesses – such as restaurants and retail stores – have yet to find an energy management product that allows them to reduce their energy footprint in financially viable manner. This reality not only harms the planet, but the bottom-lines of thin-margined businesses across the country.
Powerhouse Dynamics (founded 2008) developed a cloud-based enterprise energy and asset management tool – SiteSageTM. SiteSage controls and analyzes electricity consumption at the equipment level and continuously improves efficiency by controlling major loads, monitoring power consumption and performance of individual pieces of equipment, and tracking gas and water usage. The SiteSageTM platform helps owners of small, commercial facilities reduce their operating costs by delivering the actionable intelligence and control required for effective energy management and cost savings. This reduced energy use leads to reduced carbon emissions and air pollution.
SVF’s $50k investment was part of a bridge financing round, which converted at the close of a $6 million series B round in May 2014. The funding will be used to accelerate the execution of PhD’s product roadmap and ramp sales.