eCurv, Inc. , a privately held technology firm rolling out a patented means to reduce electricity charges for commercial customers, announced that it has closed a $2.5 million Series A round of funding led by Constellation Technology Ventures, the venture capital arm of Exelon Corporation . Other investors include Vodia Ventures and Massachusetts Clean Energy Center . The funding will be used to scale eCurv's operations and hire new employees.
Modeled after the digital queuing technology that has enabled the IT and mobile telecommunications sectors to profitably scale their service capacity for over 20 years, eCurv's QPACTM (Queued Power Access) service automatically queues the access of electric loads, such as HVAC systems, electric pumps, motors, battery charging, and heating and refrigeration equipment, avoiding expensive peak demand events.
"eCurv's new method for electricity distribution reliably reduces utility charges through the digital queuing of electric loads," said Edison Almeida, president and CEO of eCurv. "eCurv's QPACTM software service delivers significant reduction in the demand component of our customers' electricity bill with no modifications to their existing equipment."
"eCurv offers commercial customers a simple, smart solution for reducing peak electricity demand," said Michael Smith, Constellation vice president and head of Constellation Technology Ventures. "eCurv's innovation has the potential to transform how electric loads interact with energy supply for a wide variety of demand management applications."
Vodia Ventures co-founder and managing director Julianne Zimmerman noted, "eCurv has demonstrated the value of its service to reduce costly electric power demand spikes in real time, complementing existing demand management services operating in hour, 30-minute, 15-minute, and shorter timeframes. eCurv's QPACTM service addresses a critical unmet need, and benefits both commercial customers and power suppliers alike."
"eCurv's cutting-edge technology is truly pioneering a new way to reduce peak demand, creating savings for its customers at the same time it reduces the use of dirty fossil fuels," said MassCEC CEO Alicia Barton. "This type of revolutionary approach is what Massachusetts clean energy companies do best, and MassCEC is excited to partner with eCurv in this effort."