Boulder, Colorado-based cleantech company e-Chromic Technologies has raised $600,000 in Series Seed financing. Amplifier Ventures led the round.
BOULDER, Colo., Feb. 19, 2014 /PRNewswire/ — e-Chromic Technologies, a cleantech company commercializing innovative energy efficiency technology, announced the first closing of a $600,000 Series Seed financing round led by Amplifier Ventures, a seed stage venture capital fund based in the Washington, DC region. e-Chromic Technologies is developing an innovative reflective electrochromic thin film that enables users to control light and solar heat transmission through windows. The dynamic window film technology, which was created at DOE’s National Renewable Energy Laboratory (NREL), will dramatically decrease energy consumption in commercial and residential structures as it is deployed to retrofit the 19.5 billion sq./ft of installed windows in the U.S.
“We have made tremendous progress working with our partner NREL,” noted Loren Burnett, Chairman and founder of e-Chromic. “As we move towards a commercial prototype, our work is showing a potential savings of 35% of cooling costs for users that deploy our retrofitting products, and the potential for users to select whether to reflect heat, light or both. We are very much part of the ‘internet of things’ as our products will also allow users to control their home or business’ energy consumption from a remote location, or automatically through third party software.”
“The company has made tremendous progress since we helped establish it two years ago,” added Jonathan Aberman, Managing Director of Amplifier Ventures. “The company has benefitted from a strong and continuing relationship with NREL, which has provided funding and support to continue to progress this important technology. The proceeds of the Series Seed will allow us to move technology from the lab to a product that can be commercially evaluated.”
About e-Chromic Technologies
e-Chromic Technologies (Boulder CO), has an exclusive commercialization agreement with the National Renewable Energy Lab (NREL) for patented electrochromic thin film technology. This technology can be used to retrofit the 19.5B sq./ft. of existing windows in commercial and residential structures in the U.S. and transform them into highly energy efficient smart windows. http://www.echromic.com.
About Amplifier Ventures
Amplifier Ventures specializes in matching entrepreneurs with federally funded technology, and identifying and implementing new innovation models for the federal government. Amplifier Ventures also operates an early stage venture capital investment fund management business, and has formed 16 technology companies since 2005.