ESSESS raises $17 m to measure energy efficiency
USA – ESSESS Inc. has raised $ 10.7 million to develop the world’s leading mobile thermal imaging technology and data analysis pipeline designed to identify and quantify energy losses in millions of buildings. ESSESS is based in Boston, Massachusetts and benefits from its close collaboration with MIT. The funding has been collected from a number of investors including VOCAP INVESTMENT PARTNERS, DFJ Athena and CONSTELLATION TECHNOLOGY VENTURE. Tamarisk, a venture capital firm focused on building technologies, and the Massachusetts clean energy center , whose mission is to accelerate clean energy technologies in the Commonwealth of Massachusetts, have also contributed.
The company has completed financing and has recently completed field trials the with its rapid deployment partners, including the US Department of Defense. These partners validated the ability of the company to deploy the mobile thermal imaging that provides practical advice to motivate updates in building envelopes and HVAC systems. This funding will allow the company to develop its technology into millions of homes and businesses. This project will be implemented in partnership with electric and gas utilities, competitive energy suppliers, large energy service companies and building materials and service providers.
“Essess’ cutting-edge technology is a revolutionary way to collect and analyze data, empowering home and building owners to see how they’re using energy and target inefficiencies,” said Massachusetts Clean Energy Center (MassCEC) CEO, Alicia Barton. “MassCEC is proud to partner with Essess on this exciting endeavor.”
ESSESS deploys vehicles equipped with roof mounted imaging systems equipped with multiple long-wave and infrared cameras, LIDAR devices, GPS units and a range of sensors. These are combined with computer vision machine learning algorithms and heat flow analysis and this enables ESSESS to automatically identify across vast territories any abnormal physical heat signatures in buildings and other property.
“Essess is the only company in the world today that can collect and analyze energy loss information in buildings across entire cities and states in a matter of weeks,” said Tom Scaramellino, Chief Executive Officer. “We are thrilled to have the support of our existing investors and new investors like MassCEC to help us commercialize this technology across the 130+ million buildings in the United States and abroad.”
ESSESS uses its thermal imaging technology in a number of software sales and end customer marketing products. These products include a web portal that displays a loss of energy on interactive maps of vast natural areas; a customer relationship management tool that offers a whole new category of analysis and measurement recommendations for clients; and a turnkey energy efficiency program for utilities that delivers energy audit reports via direct mail, email, and the web.
“Essess has spent a number of years in research and development to make mobile thermal imaging technology a viable commercial application in energy efficiency markets,” said Sanjay Sarma, Founder and Chairman of Essess and Professor of Mechanical Engineering at MIT. “We are thrilled to reach this critical commercialization milestone and begin scaling our delivery of a compelling suite of products into energy efficiency markets.”