BOULDER, COLORADO, July 21, 2003 - EnergyWindow,® Inc., a leading supplier of products and services that help business energy buyers save time, money, and reduce risk through energy management and procurement, announced today that it has closed its first round of funding. Altira Group LLC, an early-stage venture capital fund focused on energy technology, provided up to $1 million Series A financing. EnergyWindow will use the money to integrate and accelerate commercialization of their products, strengthen infrastructure, heighten market visibility and build staff.
As the number of deregulated energy markets continues to increase and markets mature, EnergyWindow anticipates strong growth due to rising natural gas prices, growing pressure for businesses to reduce operating expenses, and market demand for simpler, more efficient ways to procure and manage energy supply.
"The timing of the Altira investment is perfect. We have proven our ability to save twenty large companies significant money and time while minimizing risk and missed opportunities," noted Jack Mason, EnergyWindow President. "We can now improve, expand, and gain greater awareness of the value of our products and services among large companies with many facilities and significant energy costs."
Peter Edwards of Altira Group remarked, "The EnergyWindow team has created a solid business in true entrepreneurial fashion. We are thrilled to be investors in the Company and feel this capital will allow them to build the resources they need to support growth in line with current and future market opportunities."
About EnergyWindow
EnergyWindow, headquartered in Boulder, CO and founded in 1999, helps energy buyers with large energy supply demands and many facilities save money, time, and reduce risk exposure in deregulated energy markets. EnergyWindow provides a full range of services and products that assist businesses with all aspects of energy procurement and managing the energy supply cycle. EnergyWindow's flagship service, the automated online request for quotation system, matches energy buyers and suppliers via an open, objective Web-based procurement process. This system quickly creates accurate, need-based requests for quotation, solicits competitive bides from multiple, qualified energy suppliers, and identifies the best supplier with which to contract for energy supply. Additional offerings include strategy development, program development, cost and use analysis, tariff analysis and auditing, competitive market information sources, and energy program cost and performance management.
For information: http://www.energywindow.com
Or contact: info@energywindow.com
Phone: 303-444-2366
About Altira
Altira is an early-stage venture fund focused on energy technology. Based in Denver, Colorado, the firm recently announced the closing of its fourth fund. Altira looks for outstanding technology companies in the areas of oil and gas, information technology for the energy industry, electric power generation, transmission and distribution and renewable energy. The firm targets opportunities in first institutional equity rounds with initial investments of $1 million to $3 million. For more information about Altira see
http://www.altiragroup.com