SEATTLE--(BUSINESS WIRE)--Optimum Energy, the leading provider of True OptimizationTM for enterprise facilities, today announced it has raised a follow-on investment from Edison Energy, Inc., a subsidiary of Edison International (NYSE: EIX). This investment expands the financing round announced in June, which included Columbia Pacific Advisors, Navitas Capital, and Johnson Controls, Inc.
“Edison Energy is focused on providing energy services to industrial and commercial customers across the nation”
The expanded financing round will enable Optimum Energy to accelerate growth of its next-generation optimization solution and strategically hire top talent. "We're gratified with the vote of confidence we've received from our investors," said Matthew Frey, president and CEO of Optimum Energy. "Edison is a recognized leader in supplying electricity who perceives the value in our innovative approach to energy efficiency. It's a powerful partnership that will benefit both Edison and Optimum going forward."
"Edison Energy is focused on providing energy services to industrial and commercial customers across the nation," said Bert Valdman, President of Edison Energy. "Optimum Energy's market leadership makes it a natural investment choice."
Since 2005, Optimum Energy has spearheaded innovation in the Industrial Internet, where mechanical systems and cloud software converge. Today Optimum Energy conducts 1.5 billion optimization calculations annually in over 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 150 million kilowatt-hours
- Reduce CO2 emissions by over 225 million lbs—the equivalent of removing annual greenhouse gas emissions from 21,000 passenger vehicles
- Save over 30 million gallons of water
About Optimum Energy
Optimum Energy is the leading provider of enterprise energy 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 Edison Energy and Edison International
Edison Energy is a wholly-owned subsidiary of Edison International focused on new business development opportunities in distributed generation, electrification of transportation, water purification, and power management services to the commercial and industrial sectors.
Edison International, through its subsidiaries, is a generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities.
About Columbia Pacific Advisors
Columbia Pacific Advisors (“CPA”) is an alternative investment management firm located in Seattle, WA and was founded in 2007. CPA has significant experience in real estate development, private and public equity, and special situation investing. CPA is a Registered Investment Advisor with the SEC.
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.