iIn the September edition of Energy Technology Connections, we bring you recent industry highlights and the latest news from Capitol Hill. Specifically, we congratulate our client, NBD Nanotechnologies, for their successful Series A round and highlight EnerNOC’s new developments in energy intelligence software technology. In addition, please see our Events section below to learn more about Houston-based SURGE Accelerator’s Spring 2015 program and application process.
Leaders in the News
We’re excited to share that our client, NBD Nanotechnologies, has recently secured $5.2 million in Series A funding to advance its platform technologies and product development. The funding, led by Phoenix Venture Partners (PVP) and joined by Supply Chain Ventures and previous angels, will help NBD Nano continue improving its proprietary surface modifying coatings. Already, the Boston start-up’s nanotechnologies have successfully produced highly functional and durable materials that are omniphobic (hydrophobic, oleophobic) and hydrophilic, providing NBD with a wide variety of industrial and consumer commercial applications. Phoenix Venture Partners (PVP) invests in and partners with entrepreneurs to commercialize breakthrough materials science innovations. PVP is based in Silicon Valley with satellite offices in Singapore and Cambridge, MA.
For more information on NBD Nanotechnologies, their products, and the story behind their achievements, please visit their website.
Innovator Profile
We would like to congratulate our client, EnerNOC, on their recent investment in software-as-a-service (SaaS) company, WeSpire. EnerNOC is a leading provider of cloud-based energy intelligence software (EIS) and services to thousands of enterprise customers and utilities globally. Its EIS solutions for utilities help maximize the value of demand-side resources, while its enterprise software helps drive savings and improve productivity by optimizing energy usage. By partnering with WeSpire, EnerNOC will have the opportunity to market a white-labeled version of WeSpire’s employee engagement application, customized for their over 6,000 enterprise and utility customers. WeSpire’s application tracks the business impact of engaging employees in sustainability by allowing employees to earn points for sustainable practices. Similar technology by WeSpire is already being used by companies such as eBay and Unilever. The full press release on the partnership can be found here.
EnerNOC’s focus is on energy intelligence software and related solutions, including supply management, utility bill management, visibility and reporting, and facility optimization, among others. Notably, EnerNOC holds a market leading position in demand response technology, which continues to receive national and international attention. The United States Government Accountability Office, recognizing the benefits of demand response, recently released a report offering recommendations to the General Services Administration (GSA) and the United States Defense Department regarding its use and implementation. If used properly, these agencies could save millions of dollars in utility bills annually. Though the GSA has not consistently tracked this information, it is estimated that demand response technology saved the agency $888,000 in fiscal year 2012 alone. Utilization of demand response technology is projected to grow as entities from the government to the private sector explore enacting similar programs.
Washington Update
Following the Environmental Protection Agency’s proposal of the Section 111(D) rule on June 2nd, the EPA held public hearings across the nation to receive comments about the agency’s Clean Power Plan. The rule change, which would establish state-specific targets to mandate a 30 percent cut in power-plant CO2 emissions nationally by 2030, centers around four potential carbon reduction building blocks: (1) making fossil fuel power plants more efficient, (2) using low-emitting power sources more frequently, (3) expanding zero- and low-carbon power sources, and (4) using electricity more efficiently. The proposal has already generated more than 300,000 comments, including from House Science Committee Chair Lamar Smith (R-TX), who recently sent letters to the EPA and the Energy Information Administration calling for a re-analysis of the Clean Power Plan by both agencies.
As Congress prepares to return from the August recess, several energy-related bills are expected to come up for a vote in September in the House of Representatives. According to House Majority Leader Kevin McCarthy (R-CA) in an address to the House Republican Conference on August 8th, these will likely include measures to open federal lands to energy extraction (H.R. 4899), limit environmental regulations (H.R. 1582), and approve the Keystone XL pipeline (H.R. 3). On a related note, the August 10th edition of Nature Climate Change published a study which found that greenhouse gas emissions from the Keystone XL pipeline could be up to four times higher than the State Department estimates due to the pipeline’s impact on global oil prices and consumption.
In other Congressional news, 54 members of the House of Representatives expressed their support for the expiration of the Production Tax Credit (PTC) for wind energy in a letter to Representative McCarthy and Speaker of the House John Boehner (R-OH). On August 4th, the Congressional Research Service (CRS) issued a report finding that fossil fuel export restrictions may potentially be inconsistent with the General Agreement on Tariffs and Trade 1994. Members of Congress will return from the August Recess on September 8th.
