OutSmart Receives New Funding for Innovative Energy Monitoring
Company Develops Circuit-Level Products for Analyzing Electrical Use
NATICK, MA -- (Marketwire) -- 12/05/12 -- OutSmart Power Systems,
manufacturers of the first cost-effective solution for monitoring
electrical usage at the circuit-level, today announced $1.5 million
in new funding from private venture investors to support continued
product development and commercialization efforts. "We are delighted
to announce the closing of this investment round," said Kevin
Johnson, CEO and Founder of OutSmart Power Systems. "We believe our
technology fills an important gap in energy efficiency and this
financing will allow us to grow our customer base, expand
distribution through strategic partners and further enhance the
In energy management, much attention has been paid to front end
reporting, control and analysis tools, but granular information on
actual electrical use has been missing. OutSmart provides a complete
system for low-cost energy monitoring that can be easily installed in
any building using existing wiring, according to Johnson. Electrical
data is collected at a hub and then sent to the cloud where it can be
monitored and analyzed to evaluate specific equipment and facility
performance. OutSmart products can be used to verify energy
improvements, identify areas of waste, and help predict faulty or
failing equipment, Johnson said.
"With OutSmart, we can separate conditioning load from server load,
measure and verify energy reductions, and ensure the persistence of
measures we've implemented," said Mike Skiotis, Senior Facility
Manager at Progress Software Corporation (NASDAQ: PRGS), where the
OutSmart system has been in operation since March 2012. "OutSmart has
the potential to be a game-changer for how energy and equipment are
managed in facilities."
With the latest round of funding, OutSmart has now raised over $9
million since its founding in 2008.
OutSmart Power Systems, LLC offers a complete system
for low cost, comprehensive energy and equipment monitoring in
commercial and industrial buildings. The company's products capture
circuit level electrical data utilizing existing building wiring, and
are used in data centers, cold-storage facilities, high-performance
green buildings and other applications where energy use is critical.
The company is headquartered in Natick, MA. For more information on
OutSmart Power Systems, visit http://www.outsmartinc.com
PDN Associates for OutSmart
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