Led by Constellation, eCurv Inc. raises $2.5 Million in Series A funding round to reduce electricity costs for commercial cus...
25 June 2014 - 1:00AM
Business Wire
eCurv, Inc., a privately held technology firm rolling out a
patented means to reduce electricity charges for commercial
customers, announced today it has closed a $2.5 million Series A
round of funding led by Constellation Technology Ventures, the
venture capital arm of Exelon Corporation. Other investors include
Vodia Ventures and Massachusetts Clean Energy Center. The funding
will be used to scale eCurv’s operations and hire new
employees.
Modeled after the digital queuing technology that has enabled
the IT and mobile telecommunications sectors to profitably scale
their service capacity for over 20 years, eCurv’s QPACTM (Queued
Power Access) service automatically queues the access of electric
loads, such as HVAC systems, electric pumps, motors, battery
charging, and heating and refrigeration equipment, avoiding
expensive peak demand events.
“eCurv’s new method for electricity distribution reliably
reduces utility charges through the digital queuing of electric
loads,” said Edison Almeida, president and CEO of eCurv. “eCurv’s
QPACTM software service delivers significant reduction in the
demand component of our customers’ electricity bill with no
modifications to their existing equipment.”
“eCurv offers commercial customers a simple, smart solution for
reducing peak electricity demand,” said Michael Smith,
Constellation vice president and head of Constellation Technology
Ventures. “eCurv’s innovation has the potential to transform how
electric loads interact with energy supply for a wide variety of
demand management applications.”
Vodia Ventures co-founder and managing director Julianne
Zimmerman noted, “eCurv has demonstrated the value of its service
to reduce costly electric power demand spikes in real time,
complementing existing demand management services operating in
hour, 30-minute, 15-minute, and shorter timeframes. eCurv’s QPACTM
service addresses a critical unmet need, and benefits both
commercial customers and power suppliers alike.”
“eCurv’s cutting-edge technology is truly pioneering a new way
to reduce peak demand, creating savings for its customers at the
same time it reduces the use of dirty fossil fuels,” said MassCEC
CEO Alicia Barton. “This type of revolutionary approach is what
Massachusetts clean energy companies do best, and MassCEC is
excited to partner with eCurv in this effort.”
About eCurv
eCurv, Inc. is a Cambridge, MA venture founded in 2011. eCurv
has introduced a patented method for electricity distribution that
reduces utility charges for commercial customers. eCurv’s QPACTM
(Queued Power Access) software service is available for immediate
delivery, is secure and reliable. eCurv’s QPACTM service seamlessly
integrates with building automation systems, electric equipment
with networked controls, machine to machine networks, and other
emerging technologies to holistically achieve integrated energy
efficiency. For more information, visit: http://www.ecurv.com
About Constellation
The Constellation family of retail electricity and natural gas
suppliers (www.constellation.com) are subsidiaries of Exelon Corp.,
and are leading competitive retail suppliers of power, natural gas
and energy products and services for homes and businesses across
the continental United States. Constellation’s retail
businesses serve more than 100,000 business and public sector
customers, including more than two-thirds of the Fortune 100, and
nearly one million residential customers.
Exelon Corporation (NYSE: EXC) is the nation’s leading
competitive energy provider, with 2013 revenues of approximately
$24.9 billion. Headquartered in Chicago, Exelon has operations and
business activities in 48 states, the District of Columbia and
Canada. Exelon is one of the largest competitive U.S. power
generators, with more than 35,000 megawatts of owned capacity
comprising one of the nation’s cleanest and lowest-cost power
generation fleets. The company’s Constellation business unit
provides energy products and services to approximately 100,000
business and public sector customers and approximately 1 million
residential customers. Exelon’s utilities deliver electricity and
natural gas to more than 7.8 million customers in central Maryland
(BGE), northern Illinois (ComEd) and southeastern Pennsylvania
(PECO).
About Vodia Ventures
Vodia Ventures invests seed capital in companies focused on
cracking open “unsolvables” associated with persistently unmet
customer demands in energy, water, food security, and public
health. Vodia Ventures believes these unsolvables share key
structural characteristics which are ripe for technology-enabled
innovation and long-term value creation. Vodia Ventures is
headquartered in Concord, MA. For more information, visit
www.vodiaventures.com
About MassCEC
Created by the Green Jobs Act of 2008, 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 its
inception in 2009, MassCEC has helped clean energy companies grow,
supported municipal clean energy projects and invested in
residential and commercial renewable energy installations creating
a robust marketplace for innovative clean technology companies and
service providers. For more information, visit www.masscec.com
eCurvEdison Almeida, 617-870-3727orConstellationKelly Biemer,
410-470-9700
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