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Led by Constellation, eCurv Inc. raises $2.5 Million in Series A funding round to reduce electricity costs for commercial customers
|By Business Wire
|June 24, 2014 11:01 AM EDT
Inc., a privately held technology firm rolling out a patented means
to reduce electricity charges for commercial customers, announced today
it has closed a $2.5 million Series A round of funding led by
Constellation Technology Ventures, the venture capital arm of Exelon
Corporation. Other investors include Vodia
Ventures and Massachusetts
Clean Energy Center. The funding will be used to scale eCurv’s
operations and hire new employees.
Modeled after the digital queuing technology that has enabled the IT and
mobile telecommunications sectors to profitably scale their service
capacity for over 20 years, eCurv’s QPACTM (Queued
Power Access) service automatically queues the access of electric loads,
such as HVAC systems, electric pumps, motors, battery charging, and
heating and refrigeration equipment, avoiding expensive peak demand
“eCurv’s new method for electricity distribution reliably reduces
utility charges through the digital queuing of electric loads,” said
Edison Almeida, president and CEO of eCurv. “eCurv’s QPACTM
software service delivers significant reduction in the demand component
of our customers’ electricity bill with no modifications to their
“eCurv offers commercial customers a simple, smart solution for reducing
peak electricity demand,” said Michael Smith, Constellation vice
president and head of Constellation Technology Ventures. “eCurv’s
innovation has the potential to transform how electric loads interact
with energy supply for a wide variety of demand management applications.”
Vodia Ventures co-founder and managing director Julianne Zimmerman
noted, “eCurv has demonstrated the value of its service to reduce costly
electric power demand spikes in real time, complementing existing demand
management services operating in hour, 30-minute, 15-minute, and shorter
timeframes. eCurv’s QPACTM service addresses a
critical unmet need, and benefits both commercial customers and power
“eCurv’s cutting-edge technology is truly pioneering a new way to reduce
peak demand, creating savings for its customers at the same time it
reduces the use of dirty fossil fuels,” said MassCEC CEO Alicia Barton.
“This type of revolutionary approach is what Massachusetts clean energy
companies do best, and MassCEC is excited to partner with eCurv in this
eCurv, Inc. is a Cambridge, MA venture founded in 2011. eCurv has
introduced a patented method for electricity distribution that reduces
utility charges for commercial customers. eCurv’s QPACTM
(Queued Power Access) software service is available for immediate
delivery, is secure and reliable. eCurv’s QPACTM
service seamlessly integrates with building automation systems, electric
equipment with networked controls, machine to machine networks, and
other emerging technologies to holistically achieve integrated energy
efficiency. For more information, visit: http://www.ecurv.com
The Constellation family of retail electricity and natural gas suppliers
are subsidiaries of Exelon Corp., and are leading competitive retail
suppliers of power, natural gas and energy products and services for
homes and businesses across the continental United
States. Constellation’s retail businesses serve more than 100,000
business and public sector customers, including more than two-thirds of
the Fortune 100, and nearly one million residential customers.
Corporation (NYSE: EXC) is the nation’s leading competitive energy
provider, with 2013 revenues of approximately $24.9 billion.
Headquartered in Chicago, Exelon has operations and business activities
in 48 states, the District of Columbia and Canada. Exelon is one of the
largest competitive U.S. power generators, with more than 35,000
megawatts of owned capacity comprising one of the nation’s cleanest and
lowest-cost power generation fleets. The company’s Constellation
business unit provides energy products and services to approximately
100,000 business and public sector customers and approximately 1 million
residential customers. Exelon’s utilities deliver electricity and
natural gas to more than 7.8 million customers in central Maryland
(BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).
About Vodia Ventures
Vodia Ventures invests seed capital in companies focused on cracking
open “unsolvables” associated with persistently unmet customer demands
in energy, water, food security, and public health. Vodia Ventures
believes these unsolvables share key structural characteristics which
are ripe for technology-enabled innovation and long-term value creation.
Vodia Ventures is headquartered in Concord, MA. For more information,
Created by the Green
Jobs Act of 2008, the Massachusetts Clean Energy Center (MassCEC) is
dedicated to accelerating the success of clean energy technologies,
companies and projects in the Commonwealth—while creating high-quality
jobs and long-term economic growth for the people of Massachusetts.
Since its inception in 2009, MassCEC has helped clean energy companies
grow, supported municipal clean energy projects and invested in
residential and commercial renewable energy installations creating a
robust marketplace for innovative clean technology companies and service
providers. For more information, visit www.masscec.com
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