Tuesday, July 21, 2009

Advanced Telemetry gets funding for Energy Management solutions

Advanced Telemetry, 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.

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