|By PR Newswire||
|February 25, 2014 01:32 PM EST||
NEW YORK, February 25, 2014 /PRNewswire/ --
Panoramic Power, the leading provider of device level energy management solutions, was awarded the technology Innovation Prize at CleanTech 2014 in Israel last week. The international event draws companies from around the world and showcases leading-edge businesses working in water technologies, energy efficiency, renewable energy, recycling, green transportation and green building.
Panoramic Power received the Innovation Prize for its unique and cost-effective device level energy management technology, which has contributed to reduced energy consumption by businesses across multiple sectors. The company provides real-time energy data and valuable actionable insights that enable businesses to optimize their energy consumption, improve operational efficiency and meet global sustainability goals.
Panoramic Power recently closed $8 million in Series B funding and has experienced rapid expansion. In 2013, the company recorded 200 percent year-over-year customer growth and opened a North American headquarters in New York City.
Though Israel is a small country with limited natural resources, it is one of the world's most competitive economies, with a strong advanced technology sector and businesses that are selling products and services around the globe. Over the past two decades, Israel has been recognized as a leader for its high-tech capacity, most recently in clean technology. There are more than 600 Israeli companies specializing in clean tech.
Other Israeli companies recognized at the CleanTech 2014 conference include TaKaDu, a company that prevents water loss, inefficiencies and network faults, and BallTech, a company that specializes in automatic condenser and heat exchanger tube cleaning systems. Miya, based in Luxembourg, was also recognized for its work optimizing water supply in urban water systems worldwide.
About Panoramic Power
Panoramic Power is the leading provider of device level energy management solutions - enabling businesses to optimize their energy consumption, improve operational efficiency and generate income through load response programs. Using its innovative and affordable circuit-level cloud-base analytics solution, companies across a wide range of retail and commercial industries gain insight into their energy usage and are able to optimize operations, processes and maintenance resources. For more information, visit http://www.panpwr.com.
SOURCE Panoramic Power
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