Aircuity looks to continue advancing the adoption and value of Airside Efficiency in the marketplace
Aircuity, the smart Airside Efficiency company, is pleased to announce the receipt of a $6.245 million investment in expansion capital. The investment was organized by Aircuity’s lead investor, Source Squared. New investors include Rivas Capital LLC, Sigma Emerging Markets Ltd, SQP Ltd, a UK investment company and Rick Pierro. Led by Rivas Capital LLC and Sigma Emerging Markets Ltd, investors provided $5 million of the total financing, with the balance provided by Source Squared. The new funds will support a five year expansion plan to accelerate growth into the rapidly expanding Airside Efficiency market.
Aircuity is the leading Airside Efficiency company worldwide, providing significant energy savings for commercial and institutional building owners while simultaneously improving the safety, comfort and productivity for occupants through continuous monitoring of the indoor environmental quality. Airside Efficiency is one of the single best program measures clients can pursue. Typical results are in a 25% to 50% reduction in HVAC related energy costs, where best results are achieved in 100% outside air facilities and highly variable occupied spaces. The company delivers their airside solutions to clients in the Higher Education, Research and Life Sciences, Commercial Office, K-12, Healthcare, Government and Public Assembly sectors. To date Aircuity has orders for over 600 systems in 16 countries.
“We are witnessing the perfect combination of factors to fuel extraordinary growth in our business,” said Dan Diehl, Aircuity Chief Executive Officer. “Awareness of Airside Efficiency as a program is on the rise, specifically to address continued demand to significantly reduce emissions while attaining efficiency goals. We have proven our solution with best in class clients in every sector we serve and our solutions enable a diverse variety of constituents to provide safe and productive working environments which are aligned with their core business objectives. With our recently introduced system enhancements, we are providing even better returns for our clients; simply put, the timing is right for robust market expansion.”
“We are confident that our market opportunity is in excess of $5 billion. We know that in North America alone, there are approximately 10,000 laboratory facilities spending more than $7.5 billion a year on energy. Worldwide, the number of lab facilities approximately doubles. While labs are certainly the most energy intensive facilities our clients operate, we are seeing our business grow in almost every market due to adoption across a wider range of more complex buildings and with the demand for intelligent and life cycle cost solutions. This funding will give us the resources we need to service this tremendous opportunity.”
Aircuity is the smart airside efficiency company providing building owners with sustained energy savings through its intelligent measurement solutions. By combining real-time sensing and continuous analysis of indoor environments, the company has helped commercial, institutional and lab building owners lower operating costs, improve safety and become more energy efficient. Founded in 2000 and headquartered in Newton, MA, Aircuity’s solutions have benefited organizations such as the University of Pennsylvania, Eli Lilly, Masdar City, the Bank of America Tower and the University of California-Irvine. For additional information on the company and its solutions, please visit: https://www.aircuity.com.