Friday, November 11, 2011

Serious Energy Launches SeriousCapital: Serious Building Upgrades with Zero Upfront Cost
Serious Energy Inc.... formally launched SeriousCapital, a service that cuts energy and maintenance costs and creates more comfortable and efficient properties for building owners and tenants – at zero upfront cost.

“Just give us your utility bill. We will do the rest,” said Kevin Surace, CEO of Serious Energy. “We’re changing the way people think about upgrading buildings. Now, with no out-of-pocket costs, building owners, cities, states, and schools can upgrade the efficiency and comfort of their buildings immediately. No reason to wait. The upgrades will be cheaper, better, and easier than anyone else. This is the breakthrough in delivering efficiency upgrades that building owners have been waiting for.”
Under the program, buildings become more valuable. The occupants become more comfortable and potentially even more productive. The building owner receives immediate and continuing reductions in energy costs, backed by 3rd party insurers to guarantee that savings now and into the future. Serious Energy identifies, installs, and pays for efficiency upgrades. It all happens off-balance sheet. No lien loans, no tax implications.

The financial concepts behind SeriousCapital - building upgrades at no upfront cost - were in part adopted from the successful solar power purchase agreements which have proliferated in the past few years....

America’s buildings account for approximately 40 percent of total U.S. energy consumption, according to the U.S. Department of Energy, costing $400 billion annually. Commercial real estate alone accounts for 18 percent of all of the energy consumed in the U.S., more than cars and light trucks combined (16.5 percent). Experts generally agree that 30 percent or more of the energy in buildings is wasted or consumed inefficiently.

... SeriousEnergy Manager is a cloud-based enterprise software system that monitors, optimizes, and controls building energy use using advanced algorithm technology. SeriousWindows and iWindow significantly improve building envelope energy performance, improving comfort and reducing heating and cooling. QuietRock delivers improved comfort through reduced-material patented soundproofing technology, enabling buildings to increase density and help improve productivity. With an advanced software development team, six manufacturing plants and a broad network of distributors throughout the U.S. and Canada, Serious Energy products have been installed in over 70,000 projects worldwide, including the Empire State Building.

Since its founding in 2002, Serious Energy’s suite of solutions have improved over 70,000 buildings and homes. In 2010, Serious Energy upgraded all 6,514 dual pane windows in the Empire State Building with its super-insulating SeriousGlass technology, a key element in reducing the overall energy cost in the iconic structure by 38 percent. The New York Stock Exchange recently called on Serious Energy to reduce energy use while improving year-round comfort in its 104-year-old historical landmark offices.

It is one of the winners of the 2011 Technology Fast 500 Awards sponsored by consulting firm Deloitte LLP that honors rapidly growing companies in high tech.

The Sunnyvale-based company, has raised at least $120 million in venture investment from firms including New Enterprise Associates, Foundation Capital and Mesirow Financial.

Serious Energy
Press Release dated November 3, 2011

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