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Dealipedia - Adura Technologies receives an investment from VantagePoint Venture Partners...

Adura Technologies receives a $5 million investment

Deal Participants:
Company: Adura Technologies View Profile Charts Homepage
Investors: VantagePoint Venture Partners View Profile Charts Homepage
Claremont Creek Ventures View Profile Charts Homepage
Deal Financials:
Investment Amount: $ 5 million
Series: A
Date:
Announced: Oct 16, 2008

PRESS RELEASE - Adura Technologies receives a $5 million investment

Adura Technologies, designer and manufacturer of turn-key wireless lighting management systems for offices and other commercial facilities, today announced the completion of a $5 million Series A investment. The financing was co-led by VantagePoint Venture Partners, a leading CleanTech investor based in San Bruno, CA and Claremont Creek Ventures, an early-stage venture capital firm based in Oakland, CA.

Adura’s advanced clean energy technology provides a full-service lighting management solution that substantially reduces the use of electricity in commercial buildings. The Adura LightPoint(TM) System consists of lighting control hardware, software-based installation tools and an enterprise-class facility management software application that can be easily integrated with existing building management systems.

Adura applies the latest innovations in low-power wireless mesh networking with an intuitive software management tool so that building owners, tenants, and facility managers can easily implement energy efficiency and load curtailment strategies to reduce their operating cost and carbon footprint.

Zach Gentry, CEO and Co-founder of Adura, said the financing will enable the company to further its penetration into large-scale commercial buildings.

“With dramatic increases in energy costs and energy use rising faster than supply, commercial building owners, tenants, and facility managers are looking for ways to reduce demand and improve efficiency,” said Gentry. “Our pilot installations have already delivered cost-effective energy management solutions to several commercial and institutional customers throughout Northern California. Now, this equity investment from VantagePoint and Claremont Creek will enable us to increase the pace of our deployment at other major facilities across the country.”

“As much as 30% of the energy consumed in today’s office is devoted to lighting,” said Nat Goldhaber, Managing Director of Claremont Creek Ventures. “This represents about $24 billion in electrical costs nation wide. Time and again, Aduras’ solutions have saved 40-60% of office lighting energy.”

“In today’s climate of rapidly rising energy costs, VantagePoint is enthusiastic about Adura’s solution, which will increasingly become a critical component of a sound energy reduction strategy for companies and institutions,” said Lee Burrows, a VantagePoint Venture Partners Principal and new member of Adura’s Board of Directors.

About Adura

Adura Technologies manufactures turn-key wireless lighting management systems that provide for significant energy cost savings and carbon reduction. The Adura LightPoint(TM) System consists of lighting control hardware, software-based installation tools and an enterprise-scale facility management software application that can be integrated with existing building management systems. The Company is backed by VantagePoint Venture Partners and Claremont Creek Ventures. For more information, see http://www.aduratech.com

About VantagePoint Venture Partners

VantagePoint Venture Partners is a leader in investing in 21st century technologies and partners with entrepreneurs in the CleanTech, Healthcare and Information Technology sectors. With a large investment team of experts, a broad network of strategic partners and advisors, and more than $4.5 billion committed capital; the Firm has the depth of resources to help build transformative companies that are clear leaders in their categories. The Silicon Valley Firm has investments in more than 70 companies including Better Place, BrightSource Energy, Gain Capital, Mascoma, Miasole, Premium Power, ReachLocal and others. For more information visit www.vpvp.com.

About Claremont Creek Ventures

Claremont Creek Ventures (www.claremontvc.com) is a venture capital firm based in Oakland, California with a $130M first fund and a $175M second fund. Founded in 2005 by Managing Directors Nat Goldhaber, Randy Hawks and John Steuart, Claremont Creek is the premier funding source for early stage technology opportunities in the East Bay, San Francisco, Silicon Valley and beyond. The firm works closely with local institutions such as UC Berkeley, UC Davis, and the Lawrence Livermore and Berkeley Laboratories to help inventors and entrepreneurs turn great ideas into great products and companies.

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Oct 16 '08
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