SAN DIEGO - (Business Wire) Advanced Telemetry (www.AdvancedTelemetry.com), developer of the “EcoViewTM“ smart energy and resource management system for business and residential applications, today announced that it has successfully closed its Series B investment round with funding lead by Quercus Trust and a co-investment from 21Ventures. Both Quercus Trust and 21Ventures were investors in Advanced Telemetry’s Series A round. The funds will be used to increase production and to expand sales channels of EcoView Residential and EcoView Commercial. EcoView Commercial has been installed with franchisees of some of the nations largest quick service and full service restaurants including Taco Bell, Burger King, Arby’s, Jim ‘N Nick’s Bar-B-Q and others and has won substantial acclaim from customers and distributors for its ease of installation, industry leading price point, substantial functionality, and rapid return on investment. Demand for EcoView Commercial has surged along with the number of company’s vying to distribute the technology since, through an escalating number of real world installations, the user-friendly system has proven its ability to reduce utility bills by as much as 25% and deliver a return on investment in a few short months.
"We are very excited to welcome Quercus Trust and 21Ventures as investors in this round. They have been strong supporters of Advanced Telemetry since inception and these funds will help us achieve the vast potential of our Company to bring our robust, cost effective energy management solution to small commercial buildings and residences," said Gus Ezcurra, CEO of Advanced Telemetry.
"Advanced Telemetry continues to be an industry leader with its unique approach to energy management for the underserved small commercial market and the residential market. We are proud that Advanced Telemetry is one of the few enterprise level solutions that is available now in the marketplace and currently saving its customers substantial dollars by reducing their energy bills, and staying true to its commitment to the environment by reducing its customers’ energy consumption and greenhouse gas emissions," said David Anthony, managing partner for 21Ventures.
EcoView Commercial transforms how electricity and other precious resources are conserved both at home and in business, resulting in considerable monetary savings and a smaller carbon footprint. Controlled through a simple-to-install wireless touch panel “dashboard” or web interface and completely independent of a utility company, the system helps business users understand and track how they are consuming resources.
EcoView Commercial Features:
- On-site “dashboard” touch panel for graphical viewing of real-time and historical resource consumption data
- Web-based interface for real-time usage reporting and remote thermostat control
- Centralized, remote control of thermostats including set points, schedules, and heating and cooling limits that eliminates suboptimal local control
- Innovative, automated load-shedding option designed to reduce consumption during peak demand periods
- Dedicated Advanced Telemetry account specialists charged with monitoring customers’ consumption for anomalies and continually updating thermostat settings for optimal performance and savings
- Automated email alerts
About Advanced Telemetry, LLC
With a corporate belief that energy and fiscal conservation begins with an awareness of wasteful consumption habits as they occur, Advanced Telemetry offers EcoViewTM – a proprietary, smart energy and resource management system for both residential and small commercial applications. Server-based, Web accessible and built with an open standard automation protocol, EcoView is the most cost-effective, future-proof system available that enables users to easily view, manage and reduce their resource consumption - and thus utility bills and carbon footprint – in real-time. This is among the reasons why Advanced Telemetry’s technology is being utilized by General Electric as part of its EcomaginationTM SmartCommandTM program. Founded in 2007, Advanced Telemetry is headquartered in San Diego, California. For more information, please visit www.advancedtelemetry.com or call (858) 549-1083.
About Quercus Trust
Quercus Trust of Newport Beach, California is recognized as one of the leading CleanTech venture funds in North America with strategic investments in the clean technology areas of solar, water, bio-fuels, wind and batteries. Quercus Trust is known to provide more value than just funding and takes a long-term view of invested capital leveraging its industry expertise and relationships for the benefit of its portfolio companies.
About 21Ventures
21Ventures is a virtual technology incubator focusing on the ideas and innovations that will dominate the 21st century. Since its founding in 2003, 21Ventures has provided seed, growth, and bridge capital to over 39 technology ventures across the globe. 21Ventures' expertise is in the clean-tech space, where it focuses on wind, solar, water, energy storage, efficiency and, agriculture. 21Ventures invests in other sectors as opportunities arise. Unlike traditional VCs, 21Ventures leads its companies and its investors to success by providing shared resources such as grant writing; technical consulting and web based marketing services provided through its affiliate, Expansion Media. The virtual incubator sponsored by 21Ventures provides an ideal framework for companies competing in an ever evolving, global marketplace.
EcoView is a trademark of Advanced Telemetry, LLC. Other product, program and company names herein may be trademarks of their respective owners. Copyright 2009 Advanced Telemetry, LLC. All rights reserved.
Expansion Media
David Andrew Goldman, 310-746-5461
davidgoldman@expansionmedia.net
