Encelium Technologies Secures $11 Million in Financing
TEANECK, N.J./RICHMOND HILL,
ON, Dec. 20, 2010 - Encelium Technologies announced today that it has
secured $11 million in a financing round led by Siemens Venture Capital
(SVC), the corporate venture capital organization of Siemens, and
joined by existing investor Townsend Ventures. As part of the
investment, Mike Majors, Investment Partner with SVC, has joined the
Encelium Board of Directors. With more than 70 employees and operations
in the U.S., Canada and Europe, Encelium has experienced tremendous
growth, posting nearly 100% annual sales increase over the past two
years.
Encelium is a technology company
specializing in integrated lighting control systems for commercial
buildings. Encelium manufactures the Energy Control System™ (ECS), the
most advanced lighting control solution for commercial buildings on the
market. ECS has been proven to secure lighting energy savings of 50% to
75% in office applications. Since the company’s founding in 2001, ECS
has been installed in more than 35 million square feet of commercial
space across North America and Europe.
“We
look forward to the new relationship with Siemens. Their investment is
a great endorsement for us as it demonstrates a real confidence in our
company and our leading technology,” noted Tony Marano, President and
Chief Executive Officer of Encelium Technologies. “We continue to see
intelligent lighting as a dynamic, rapidly growing industry.”
“We are investing in Encelium
because our goal is to identify and finance innovative, high-growth
companies with technologies relevant to Siemens. We believe that
lighting control is a market poised for growth due to increasing energy
prices and regulation,” explains Ralf Schnell, CEO of Siemens Venture
Capital.
About Encelium Technologies
Encelium Technologies
(www.encelium.com) is an advanced technology development company
specializing in integrated lighting control systems for commercial
buildings. Using the collaborative power of addressable
networking technology in conjunction with advanced control hardware and
software, its systems are designed to maximize energy savings and
provide attractive returns on investment. It has operations in the
U.S., Canada and Europe.
About Siemens Venture Capital
Siemens Venture Capital GmbH (SVC),
the corporate venture capital organization of Siemens, invests in
early-stage technology companies and established growth companies,
focusing on the energy, industry and healthcare sectors. In this way,
SVC identifies innovative solutions from which Siemens can profit and
plays a key role in Siemens' global innovation network. To date, the
company has invested more than EUR 800 mn in over 150 companies and 40
venture capital funds. In addition, SVC advises the German Siemens
pension funds on their private equity allocation. It is in this context
that SVC has launched the venture capital fund of funds Siemens Global
Innovation Partners I.
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