Encelium Technologies has announced that it has secured $11 million in a financing round led by Siemens Venture Capital (SVC), the corporate venture capital organization of Siemens, and joined by existing investor Townsend Ventures. As part of the investment, Mike Majors, Investment Partner with SVC, has joined the Encelium Board of Directors. With more than 70 employees and operations in the U.S., Canada and Europe, Encelium has experienced tremendous growth, posting nearly 100% annual sales increase over the past two years.
Encelium is a technology company specializing in integrated lighting control systems for commercial buildings. Encelium manufactures the Energy Control System™ (ECS), an lighting control solution for commercial buildings. ECS has been demonstrated to secure lighting energy savings of 50% to 75% in office applications. Since the company’s founding in 2001, ECS has been installed in more than 35 million square feet of commercial space across North America and Europe, according to Encelium.
“We look forward to the new relationship with Siemens. Their investment is a great endorsement for us as it demonstrates a real confidence in our company and our leading technology,” noted Tony Marano, President and Chief Executive Officer of Encelium Technologies. “We continue to see intelligent lighting as a dynamic, rapidly growing industry.”
“We are investing in Encelium because our goal is to identify and finance innovative, high-growth companies with technologies relevant to Siemens. We believe that lighting control is a market poised for growth due to increasing energy prices and regulation,” explains Ralf Schnell, CEO of Siemens Venture Capital.
For more information about Encelium Technologies, visit www.encelium.com.