Optimum Energy LLC, a Seattle-based developer of software that reduces energy use in high-rises and other large buildings, has raised $5 million in second-round funding led by Columbia Pacific Management.
Optimum Energy LLC, a Seattle-based software company that develops innovative technology to sharply reduce energy use in high rises and other large buildings, has raised $5 million in venture capital.
As an emerging player in the green technology sector with a proven track record of success, the company quickly saw its second-round of financing virtually all picked up by Columbia Pacific Management Inc. of Seattle.
“We see this as a great opportunity to invest in green technology,” said Rob Andrews of Columbia Pacific. “This is a hot company with a proven product that is already in service and it now has the resources to expand its marketing and deployment capabilities.”
“Large buildings use a huge amount of electricity for heating and cooling,” said Nathan Rothman, CEO of Optimum Energy. “By cutting their energy consumption virtually in half, we help building owners save a tremendous amount of money and reduce the size of their carbon footprint.”
Optimum Energy deploys its patented Hartman Technologies to reduce energy consumption and operating costs of HVAC systems in large government, commercial and institutional buildings by 30 to 50 percent. The company's technology has proven to reach energy reduction targets in buildings in Washington and California, and Optimum Energy recently secured a contract to retrofit high rises in Hong Kong with their technology.
Rothman said the latest round of financing will enable the company to more quickly deploy additional technologies while expanding its marketing efforts and partnerships.
“Our technology also reduces water use by 10 to 15 percent in buildings with water cooled systems, and we provide continuous monitoring to ensure that systems continuously run at peak efficiency,” Rothman said. “And we're about ready to launch a networking program that will provide comparable energy reductions and cost savings for buildings with air cooled systems.”
About Optimum Energy
Founded in 2005 and based in Seattle, Optimum Energy is a privately held Washington Corporation. CEO Nathan Rothman and VP Jim Hanna have a combined more than 45 years in leading and developing technologies for companies involved in green field manufacturing and other disciplines. The company's technologies have been developed by Tom Hartman, an internationally recognized HVAC expert.