Powerhouse Dynamics Announces New Funding, New Board and Management Team Members
Funding will be used to ramp production as company begins shipping revolutionary energy management solution
NEWTON, MA - February 2, 2010. Powerhouse Dynamics, the only provider of affordable total home energy management solutions that unify energy efficiency and renewable energy, today announced that it has closed on a round of funding, led by CommonAngels of Lexington, MA, to support the rollout of its revolutionary energy management system, the eMonitor™.
“The eMonitor has been incredibly well-received by our beta testers, as well by a wide range of companies that have joined our dealer network," said Martin Flusberg, company CEO. "This funding will allow us to ramp up production, now that we have begun shipping the product to dealers, and help us expand our dealer channel. There is pent-up demand from dealers, as well as from consumers since the product was highlighted on the TV show Ask This Old House®. Our biggest challenge right now is keeping up with the demand."
Unlike other home energy management products, the eMonitor uniquely monitors at the circuit level, providing consumers with the granularity needed to understand their usage and take action. However, the eMonitor goes much further –analyzing the information for the consumer, providing cost reduction recommendations, controlling thermostats and other devices, and offering proactive monitoring and alerts.
"Home energy management is the wave of the future," said Chris Sheehan, Managing Director at CommonAngels, who has joined the Powerhouse Board of Directors. "Powerhouse Dynamics has a unique and compelling solution with its eMonitor system, and we at CommonAngels are very excited to lead this investment."
Also joining as a Director is Edson de Castro, founder and long-time CEO of Data General (acquired by EMC in 1999). "We are delighted to have someone of Ed de Castro’s reputation and experience on the Board" said Flusberg. "His experience in building and operating a large company is well balanced by Chris Sheehan’s broad experience with a range of start-ups."
Powerhouse also announced Ben Sprachman, a veteran engineering and manufacturing executive who has worked for both start-ups – including Virtual Broadband and Egenera, and established companies – such as Stratus Computer and LSI Logic – has joined as VP of Engineering.
"Ben brings exactly the right talents the company needs now as we begin production," said Flusberg.
About Powerhouse Dynamics
Powerhouse Dynamics (www.powerhousedynamics.com) provides Total Home Energy Management designed to manage all uses – and sources – of energy in the home by uniquely integrating energy efficiency with renewable energy. As the first company to combine affordable circuit-level monitoring, thermostat and device control, and ongoing analysis and alerts, only Powerhouse delivers actionable intelligence and the level of granularity required for effective energy management.