"Landep News"
Green business Chicago
A Groupon investor has showed interest in a green Chicago business and is now willing to invest $7 million in its development.
The recipient of the $7 million investment will be Clean Urban Energy which is a software company that focuses on helping commercial buildings use less energy. This investment is made by a group which is related to Battery Ventures. This investor company, with offices in Boston and Israel, is known for its investments made in the Chicago area. One of these investments involves the deal site Groupon.
Another investor that has considered Clean Urban Energy to be a business opportunity is Rho Ventures, a company with offices spread in many important cities like New York and Montreal. This highly attractive business has been on the market since 2007 and it’s planning to use all this new capital for the purpose of expanding to other cities that are homes of giant commercial spaces: New York, Houston, Los Angeles and not only.
The officials of Battery Ventures said that their decision to invest in this green business was made because “smart building technologies are quickly becoming a significant new category of investment in clean-tech”. That is the main focus of Clean Urban Energy as well. Their software is designed to be of service for these big scale consumers by reducing the HVAC energy used and in the same time expenses by 30 percent. They also offer solutions for environmental performance and electric generation efficiency and like the idea of introducing in grid markets a level of demand elasticity.
Rich Earley, the chief executive of this green Chicago business said that with the help of this funds they will be able “to accelerate product engineering and customer acquisition” and as a result continue marketing their environmentally-friendly products with the final goal of becoming a “leading technology provider in the market”. For me, their plans sound great. How do their ideals sound for you?
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