BOSTON, Nov. 20, 2014 /PRNewswire/ -- Essess, Inc.
(www.essess.com) has developed the leading mobile thermal imaging
technology and data analytics pipeline to identify and quantify
energy losses across millions of buildings. This financing, which
brings the total amount raised by the company since its founding in
2011 to $10.75 million, was led by
existing investors Vocap Investment Partners, DFJ Athena, and
Constellation Technology Ventures (the venture capital arm of
Exelon Corporation) with participation from a number of new
investors, including Tamarisc, a venture capital firm focused on
building technologies, and the Massachusetts Clean Energy Center,
the mission of which is to accelerate clean energy technologies in
the Commonwealth of Massachusetts.
The company closes this financing round having recently
completed field trials with its early deployment partners,
including the U.S. Department of Defense. These partners validated
the company's ability to deploy mobile thermal imaging that
delivers actionable advice to motivate upgrades in building
envelopes and HVAC systems. The funding enables the company to
scale its technology across millions of homes and businesses in
partnership with electric and gas utilities, competitive energy
suppliers, large energy service companies, and building materials
and service providers.
"Essess' cutting-edge technology is a revolutionary way to
collect and analyze data, empowering home and building owners to
see how they're using energy and target inefficiencies," said
Massachusetts Clean Energy Center (MassCEC) CEO, Alicia Barton. "MassCEC is proud to partner with
Essess on this exciting endeavor."
Essess deploys vehicles with roof-mounted imaging systems that
boast multiple long wave and near infrared cameras, LIDAR devices,
GPS units, and a range of other sensors. Combined with
market-leading computer vision machine learning algorithms and heat
flow analytics, Essess is able to identify automatically across
large physical territories any abnormal heat signatures in
buildings or other physical assets. "Essess is the only company in
the world today that can collect and analyze energy loss
information in buildings across entire cities and states in a
matter of weeks," said Tom
Scaramellino, Chief Executive Officer. "We are thrilled to
have the support of our existing investors and new investors like
MassCEC to help us commercialize this technology across the 130+
million buildings in the United
States and abroad."
Essess packages its thermal imaging technology in a number of
software subscription and end customer marketing products. These
products include a web portal that displays interactive energy loss
maps of large physical territories; a customer relationship
management tool that offers an entirely new category of customer
analytics and measure recommendations; and a turnkey energy
efficiency program for utilities that delivers energy audit reports
via direct mail, email, and the web. "Essess has spent a number of
years in research and development to make mobile thermal imaging
technology a viable commercial application in energy efficiency
markets," said Sanjay Sarma, Founder
and Chairman of Essess and Professor of Mechanical Engineering at
MIT. "We are thrilled to reach this
critical commercialization milestone and begin scaling our delivery
of a compelling suite of products into energy efficiency
markets."
About Essess
Essess is the leading mobile thermal imaging provider for the
energy efficiency industry. Essess' technology delivers actionable
advice on how to improve building envelopes and HVAC systems across
large physical territories to supercharge energy efficiency efforts
and building investment decisions. Essess deploys this technology
primarily to electric and gas utilities, energy service companies,
large energy consumers, competitive energy suppliers, and building
materials manufacturers and retailers. For more information, visit:
http://www.essess.com.
About MassCEC
The Massachusetts Clean Energy Center (MassCEC) is dedicated to
accelerating the success of clean energy technologies, companies
and projects in the Commonwealth, while creating high-quality jobs
and long-term economic growth for the people of Massachusetts. Since it began operating in
2009, MassCEC has helped clean energy companies grow, supported
municipal clean energy projects, and invested in residential and
commercial renewable energy installations to help create a robust
marketplace for innovative clean technology companies and service
providers. For more information, visit: http://www.masscec.com.
About Constellation
Constellation is a leading competitive retail supplier of power,
natural gas and energy products and services for homes and
businesses across the continental United
States. Constellation's family of retail businesses serves
more than 2.5 million residential, public sector and business
customers, including more than two-thirds of the Fortune 100.
Baltimore-based Constellation is a
subsidiary of Exelon Corporation (NYSE: EXC), the nation's leading
competitive energy provider, with 2013 revenues of approximately
$24.9 billion, and more than 35,000
megawatts of owned capacity comprising one of the nation's cleanest
and lowest-cost power generation fleets. Learn more at
www.constellation.com or on Twitter at @ConstellationEG.
About Tamarisc
Tamarisc is an impact-oriented venture capital firm that invests
in and supports early-stage companies across two technology sectors
that have enormous social and economic impact around resource
consumption but receive a disproportionately small share of
investable capital: green real estate and resource
efficiency—primarily technologies that facilitate responsible
consumer behavior. Tamarisc is managed by a team that combines
operational as well as investment expertise in real estate,
technology, and energy. For more information, visit:
http://www.tamarisc.com.
About Vocap Investment Partners
Vocap Investment Partners provides growth capital to technology
companies in select high potential verticals, including: Enterprise
Software, Ad Tech, Marketing Automation, Mobile, Internet of
Things, Healthcare IT and E-commerce. For more information, visit:
http://www.vocappartners.com.
Media Contact
Navi Singh, Essess
navi@essess.com
(857) 445 - 4135
SOURCE Essess, Inc.