OutSmart Receives New Funding for Circuit-Level Energy Monitoring
OutSmart Power Systems secured $1.5 million in new funding from private venture investors to support continued commercialization of its technology for monitoring electrical usage at the circuit.
OutSmart deploys sensors, dubbed EnergyMates, which extract electricity usage information from a building’s circuitry and communicate it to a central location, or load master. The data is then sent to the cloud and made accessible via the Internet.
Kevin Johnson, CEO and founder of OutSmart, said there are a lot of players in the energy management business who use sensors to monitor things such as temperature, humidity and carbon emissions. However, installing submeters to measure and analyze electricity in greater detail is very expensive.
Rather than installing submeters, OutSmart’s patent-pending EnergyMate sensors can be connected wherever wires exist, such as at a main distribution panel, motor control panel or sub panel. Electrical data is collected at a hub and then sent to the cloud where it can be monitored and analyzed to evaluate specific equipment and facility performance. OutSmart can be used to verify energy improvements, identify areas of waste, and help predict faulty or failing equipment.
The company is targeting high-energy-density buildings such as grocery stores and other food processing and distribution facilities, as well as laboratory/pharmaceutical facilities and data centers.
“We focus on owner-occupied buildings that use lots of energy at lots of points,” said Johnson. “Because of the high energy density, the ROI becomes much more compelling.”
With the latest round of funding, OutSmart has now raised over $9 million since its founding in 2008.
- NAEM Trends Report: Planning for a Sustainable Future
- 2013-20114 Winter Polar Vortex
- Integrated Building Optimization
- The CFO and the Sustainability Reporting Chain
- 2014 Environmental Leader Product and Project Awards
- Trends in Energy Management: Where Should Your Next Investment Be?
- Sustainability Careers: Unlocking Hidden Employment Potential
- Alarms Management: The Future is Now
- NAEM Research Report: Planning for a Sustainable Future
- Essential Guide to Lighting Retrofits and Upgrades
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement