Efficient Energy America Inc. (E2America), which provides energy management technology in chains such as McDonald’s, Bojangles, Taco Bell and others, has secured more funding for expansion of its HVAC control, optimization and real-time reporting systems for commercial buildings.
The intelligent HVAC control system reduces electricity costs, electricity usage and carbon emissions for commercial enterprises with its automated, self-refining, wireless, retrofit components.
The need for efficiency is in higher demand as the electricity market in the U.S. now accounts for almost 4 trillion kilowatt hours (Kwhs) a year. Commercial buildings make up 37 percent of that total, representing an annual $120 billion market.
E2America, headquartered in North Carolina, is projected to reach $10 million in sales this year – an increase of more than 20 times last year’s revenue. This growth has attracted the attention of investors and will be driven in part by recent funding of $1 million from Cecil Crawford, an entrepreneurial investor who was also involved in the startup of Ticketmaster Corp. and other business ventures.
“As commercial businesses continue looking for ways to save money and increase profitability, E2America’s energy efficiency technology can deliver one of the quickest, easiest ways to directly affect their bottom line,” said Dara O’Neill, E2America CEO. “Our projected revenue growth in the coming year is based on a dramatically increased demand for proven technology that can drastically reduce a business’s energy costs.”
E2America’s technology considers the environment inside a building, as well as the environment a building is in. It is the only system that takes into account 19 variables, including external weather data, internal and external humidity, solar heat load and building occupancy, to ensure maximum thermal comfort in all areas of a commercial building, while also reducing electrical load and usage.
In contrast, traditional energy management systems rely primarily on adjusting and maintaining a temperature that is not always comfortable for saving on electric costs. A typical E2America implementation yields ROI in 24 to 30 months, which is much faster than sustainable energy technology.
The company currently partners with a number of utility companies and electric cooperatives across the country, including Touchstone Energy Cooperatives, Progress Energy, Duke Energy and GreenCo Solutions Inc., to offer incentive programs for commercial customers.
“Conservation of electric energy is a top priority for all electric utility companies and most have incentive programs for customers who install energy-saving equipment,” said Crawford. “The energy savings from E2America’s system, coupled with the utility companies’ incentives, give customers an exceptionally short ROI.”
