SEATTLE--(BUSINESS WIRE)--Optimum Energy, the leading provider of True OptimizationTM for enterprise facilities, today announced it has completed a $12.2 million financing round. Led by new investor Navitas Capital (backed by a venture capital advisory relationship with Johnson Controls, Inc.), the round includes existing investor Columbia Pacific Advisors.
“Our goal is to provide facility professionals with better ways to manage their buildings so they can achieve their financial, operational and environmental objectives.”
The financing round will accelerate Optimum Energy's strategic focus on augmenting its next-generation energy optimization solution. "We're thrilled with the strong interest from investors in our enterprise-class, data-driven optimization solution," said Matthew Frey, president and CEO of Optimum Energy. "This financing round will cement our position as the market leader in next-generation optimization. And it will enable us to continue our research and development on cutting-edge machine learning technology, which is transforming our software into a true source of real-time predictive intelligence."
"We see the potential of the Optimum Energy platform to fundamentally alter the energy efficiency and asset efficiency equations for large-scale HVAC installations worldwide,” said Navitas’ Managing Partner James Pettit. “As a specialized VC firm that prides itself on identifying breakthrough innovations in the building sector, we believe that Optimum is the clear market leader in providing optimization solutions for smart buildings, leveraging a scalable software design, a deep knowledge base in building systems and strong strategic partners, including Johnson Controls."
"We have partnered with Optimum Energy to foster innovation in building optimization technology," said John Murphy, vice president of Johnson Controls Building Efficiency. "Our goal is to provide facility professionals with better ways to manage their buildings so they can achieve their financial, operational and environmental objectives."
Optimum Energy brings the Internet of Things to enterprise HVAC optimization, conducting 1.5 billion optimization calculations annually in 70 million square feet of commercial space. While achieving significant milestones both in technological innovation and environmental impact, the company has enabled its customers to:
- Derive actionable insights from over 200 years of cumulative operating data, growing at a rate of 8 incremental years of data per month
- Reduce energy consumption by 135 million kW-hours
- Reduce CO2 emissions by over 208 million lbs—the equivalent of removing annual greenhouse gas emissions from 19,000 passenger vehicles
- Save over 28 million gallons of water
About Optimum Energy
Optimum Energy is the leading provider of enterprise optimization solutions. The top tier of environmentally conscious Fortune 100 companies have come to depend on Optimum Energy's proven track record of fulfilling and exceeding corporate sustainability objectives. As the only provider that delivers True Optimization™, Optimum Energy reduces operational expenses by as much as 50%. Optimum achieves this by reducing energy and maintenance costs, while increasing the productivity of corporate facility support personnel. Optimum's patented solutions enable Real-Time Dynamic Commissioning™, which fights performance drift and enables automated, continuous commissioning through dynamic adaptation of the entire cooling system. For more information, please visit www.optimumenergyco.com.
About Navitas Capital
Navitas Capital is a venture capital firm focused on energy efficiency and green technology solutions for the built environment. Navitas Capital's investment focus is unique among VCs — dedicated to working with entrepreneurs and early-stage companies who are developing innovative building systems, software, materials and technologies for a sustainable built environment. Founded in 2008, Navitas has been one of the early and driving forces behind several of today's leading green building technology companies. Navitas Capital has offices in Alameda, CA and Los Angeles, CA. Please visit http://www.navitascap.com for more information.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Its 168,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Johnson Controls' commitment to sustainability dates back to its roots in 1885, with the invention of the first electric room thermostat. Through its growth strategies and by increasing market share Johnson Controls is committed to delivering value to shareholders and making is customers successful.