Enlighted Smart Building Solutions to Accelerate Its Growth in Europe With the Support of Utility-Backed Electranova Capital
SUNNYVALE, CA and PARIS, FRANCE–(Marketwired – Oct 8, 2013) – Enlighted Inc. has taken an investment from Electranova Capital to expand in Europe. Enlighted has already been successful with customers in Europe and looks to accelerate its growth in this region through this investment. Electranova Capital, a cleantech dedicated fund managed by the European private equity firm Idinvest Partners, in partnership with EDF, the world’s third largest Utility company, aims to support high-growth companies in new energy and environmental technologies globally.
Enlighted is Electranova’s first investment in North America: “The Enlighted solution portfolio combined with the consistently impressive ROI delivered to its North American customers solidified our strategic decision to invest in them,” stated Matthieu Baret, Partner at Idinvest. “With our reach amongst Fortune 1000 corporations in Europe and our understanding of market idiosyncrasies, we believe we can help Enlighted gain significant leadership in Europe and help local businesses meet energy efficiency goals,” added Julien Mialaret, Manager at Idinvest.
Enlighted harnesses sensors, software and analytics to increase energy efficiency and space optimization in commercial environments. The company’s first application, advanced lighting controls, saves companies between 50 and 70 percent in lighting energy costs. Additional applications ranging from occupancy and real estate analysis, to HVAC controls to security services are based on additional data that are observed and aggregated on the Enlighted Cloud.
In North America, Google, Turner Broadcasting, HP, City of San Jose, CA and several Fortune 1000 companies have adopted Enlighted technology in commercial settings in the past three years. In all, Enlighted has saved more than 15 gigawatt hours of electricity. In Europe, the European Union has set a goal that all new structures should be net-zero energy structures by 2020.
“Our partnership with Electranova Capital and Idinvest Partners gives us the ability to bring Enlighted smart building solutions and services into additional markets,” stated Tushar Dave, Enlighted’s CEO. “The consistent double-digit savings achieved by our U.S. customers has put a spotlight on the massive opportunity for businesses for customers around the world.”
In September, Enlighted entered into a strategic alliance with EDBI to bring its advanced energy efficiency solutions to Singapore and other Asian markets.