Ekotrope raises new $1.7 million investment
– Decision support software that lowers construction costs for developers and production builders brings total funding to $3 million –
Boston, MA – August 29, 2013
Ekotrope, an innovator in software to help building industry professionals lower construction costs while increasing energy efficiency, has increased its funding to date to $3 million following a $1.7 million investment from new investors. Investors include the Massachusetts Clean Energy Center (MassCEC), a publicly-funded agency dedicated to accelerating the success of clean energy technologies, companies and projects in the Commonwealth—while creating high-quality jobs and long-term economic growth for the people of Massachusetts. Ekotrope’s software enables developers and production builders to design buildings that cost less to construct and operate. Machine intelligence-based algorithms created by MIT Aeronautics and Astronautics Professor Edward Crawley enable the software to analyze entire buildings during the design phase, compare different component configurations, and provide Ekotrope’s clients with the most cost-effective ways to meet energy-related goals and maximize lifecycle savings. The software also provides an interactive report of a building’s energy performance, allowing users to make real-time decisions and conduct what-if scenarios during planning and construction phases. Ziv Rozenblum, CEO and founder of Ekotrope, said: “Since 2011, Ekotrope has enabled builders and designers to reduce construction costs, typically by two to ten percent, while making the same buildings up to 40 percent more energy efficient. The backing we’ve received from MassCEC and our other new investors will allow us to continue our growth and position our software as the leading building optimization solution.” To date, Ekotrope has been contracted to optimize over 700,000 square feet of building space in 11 states across the US. Alicia Barton, CEO of MassCEC, said: “Investing in Massachusetts clean energy companies allows them to take their cutting-edge technologies to national markets, while creating high-quality jobs here in the Commonwealth." For more information on the funding, or to speak directly with Ziv Rozenblum, please contact Prompt Boston: telephone: 617 401 2717 / 617 291 9899 (out of hours) or ekotrope@prompt-communications.com
About MassCEC
Created by the Green Jobs Act of 2008, the Massachusetts Clean Energy Center (MassCEC) is dedicated to accelerating the success of clean energy technologies, companies and projects in the Commonwealth—while creating high-quality jobs and long-term economic growth for the people of Massachusetts. Since its inception in 2009, MassCEC has helped clean energy companies grow, supported municipal clean energy projects and invested in residential and commercial renewable energy installations creating a robust marketplace for innovative clean technology companies and service providers.
About Ekotrope Inc.
Ekotrope is an innovator in using machine intelligence to help building industry professionals lower construction costs while increasing energy efficiency. Headquartered in Cambridge, MA, Ekotrope’s optimization engine was designed by MIT Aeronautics and Astronautics Professor Edward F. Crawley, following his search for a solution that would provide practical help in designing an energy efficient home. In 2010, Crawley could not find an existing solution for his architect to easily analyze component tradeoffs to find the best energy and investment combination. He drew on NASA technology and assembled a select group of industry experts to come up with the Ekotrope solution. Today, Ekotrope’s flagship software is trusted by developers and production builders to visualize and compare opportunities to reduce energy costs. www.ekotrope.com