Encelium Technologies Secures $11 Million In Financing
Encelium Technologies announced that it has secured $11 million in a financing round led by Siemens Venture Capital (SVC).
- Newark, NJ (1888PressRelease) December 21, 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.
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam