Encelium Technologies has secured $11 million in a financing round led by Siemens Venture Capital (SVC), the corporate venture capital arm of Siemens (NYSE: SI), and joined by existing investor Townsend Ventures.
Encelium specialies in integrated lighting
control systems for commercial buildings. The company manufactures the
Energy Control System™ (ECS), which it says can 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.
Encelium has more than 70 employees and operations in the U.S., Canada and Europe, and posted nearly 100% annual sales increase over the past two years.
“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.
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